Cullen Capital Management LLC Increases Stock Position in Genuine Parts Company $GPC

Cullen Capital Management LLC lifted its position in shares of Genuine Parts Company (NYSE:GPC) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,358,998 shares of the specialty retailer’s stock after purchasing an additional 5,671 shares during the period. Genuine Parts accounts for about 2.1% of Cullen Capital Management LLC’s holdings, making the stock its 21st biggest position. Cullen Capital Management LLC’s holdings in Genuine Parts were worth $188,357,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Genuine Parts by 84.4% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,740 shares of the specialty retailer’s stock worth $1,489,000 after buying an additional 4,915 shares in the last quarter. Equity Investment Corp increased its position in shares of Genuine Parts by 0.8% during the third quarter. Equity Investment Corp now owns 749,713 shares of the specialty retailer’s stock valued at $103,910,000 after acquiring an additional 5,955 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Genuine Parts by 25.9% during the third quarter. Hantz Financial Services Inc. now owns 399 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 82 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Genuine Parts by 4.1% during the third quarter. Envestnet Asset Management Inc. now owns 549,830 shares of the specialty retailer’s stock worth $76,206,000 after acquiring an additional 21,820 shares during the period. Finally, Pinnacle West Asset Management Inc. boosted its position in Genuine Parts by 1.6% in the third quarter. Pinnacle West Asset Management Inc. now owns 7,450 shares of the specialty retailer’s stock worth $1,033,000 after purchasing an additional 115 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

NYSE GPC opened at $147.94 on Thursday. The firm has a market cap of $20.58 billion, a P/E ratio of 25.46 and a beta of 0.74. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $130.95 and its 200-day moving average is $132.78. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $148.30.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were given a dividend of $1.03 per share. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. Genuine Parts’s dividend payout ratio is currently 70.91%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $130.00 to $142.00 in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. UBS Group boosted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. raised their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Company 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.