Valeo Financial Advisors LLC Makes New Investment in Genuine Parts Company $GPC

Valeo Financial Advisors LLC bought a new stake in shares of Genuine Parts Company (NYSE:GPC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 10,915 shares of the specialty retailer’s stock, valued at approximately $1,513,000.

Several other hedge funds also recently modified their holdings of GPC. Norges Bank bought a new stake in shares of Genuine Parts during the second quarter worth approximately $211,661,000. Federated Hermes Inc. acquired a new stake in Genuine Parts during the 2nd quarter worth $107,015,000. Nomura Holdings Inc. grew its holdings in Genuine Parts by 142.1% during the 2nd quarter. Nomura Holdings Inc. now owns 529,330 shares of the specialty retailer’s stock worth $64,213,000 after acquiring an additional 310,715 shares during the period. Pzena Investment Management LLC raised its position in shares of Genuine Parts by 98.0% during the 2nd quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer’s stock valued at $72,307,000 after acquiring an additional 295,064 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Genuine Parts by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock valued at $2,099,776,000 after purchasing an additional 260,787 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GPC shares. Evercore ISI raised their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and increased their target price for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. Truist Financial boosted their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Stock Up 0.5%

NYSE:GPC opened at $140.06 on Thursday. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $143.48. The stock has a 50-day moving average price of $129.53 and a two-hundred day moving average price of $132.12. The stock has a market cap of $19.48 billion, a price-to-earnings ratio of 24.11 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s dividend payout ratio is presently 70.91%.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.