Genuine Parts (NYSE:GPC) Short Interest Update

Genuine Parts (NYSE:GPC) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 4,430,000 shares, a decline of 18.6% from the February 28th total of 5,440,000 shares. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is currently 2.9 days. Currently, 3.2% of the shares of the company are short sold.

Genuine Parts Stock Up 1.5 %

Shares of NYSE:GPC opened at $120.17 on Thursday. The company has a market cap of $16.68 billion, a price-to-earnings ratio of 18.57 and a beta of 0.93. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $121.16 and a 200 day moving average price of $123.72.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company earned $2.26 EPS. As a group, equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.43%. Genuine Parts’s dividend payout ratio is currently 63.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Genuine Parts from $125.00 to $128.00 and gave the stock an “in-line” rating in a research note on Tuesday. Truist Financial increased their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $135.00.

Institutional Trading of Genuine Parts

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millstone Evans Group LLC bought a new position in Genuine Parts in the fourth quarter worth approximately $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts during the 4th quarter worth $28,000. First Command Advisory Services Inc. purchased a new position in shares of Genuine Parts during the fourth quarter valued at $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts in the fourth quarter valued at about $29,000. Finally, Synergy Asset Management LLC purchased a new stake in Genuine Parts in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.