Franklin Resources Inc. Buys 22,707 Shares of Genuine Parts (NYSE:GPC)

Franklin Resources Inc. increased its position in shares of Genuine Parts (NYSE:GPC) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,643 shares of the specialty retailer’s stock after purchasing an additional 22,707 shares during the quarter. Franklin Resources Inc. owned approximately 0.18% of Genuine Parts worth $28,565,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in Genuine Parts in the fourth quarter worth $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts during the 4th quarter worth about $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the 4th quarter worth about $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $116.80 on Friday. The firm has a market capitalization of $16.21 billion, a P/E ratio of 18.05 and a beta of 0.82. The business has a 50-day moving average of $121.16 and a 200-day moving average of $123.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

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

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a $1.03 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts’s dividend payout ratio is 63.68%.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research analyst reports. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI upgraded Genuine Parts from an “in-line” rating to an “outperform” rating and raised their price target for the company from $128.00 to $135.00 in a report on Friday. Finally, Truist Financial boosted their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus target price of $135.88.

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.