Jeppson Wealth Management LLC Makes New Investment in Genuine Parts (NYSE:GPC)

Jeppson Wealth Management LLC acquired a new stake in Genuine Parts (NYSE:GPC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,729 shares of the specialty retailer’s stock, valued at approximately $202,000.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its holdings in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares during the period. Geode Capital Management LLC increased its position in Genuine Parts by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after acquiring an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Genuine Parts by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock worth $383,511,000 after purchasing an additional 30,354 shares during the period. Stifel Financial Corp raised its holdings in Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after acquiring an additional 25,015 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after purchasing an additional 114,180 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 2.5 %

GPC stock opened at $120.14 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average is $120.13 and its 200-day moving average is $129.76. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The firm has a market capitalization of $16.70 billion, a PE ratio of 15.46 and a beta of 0.95.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s payout ratio is currently 51.48%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GPC. The Goldman Sachs Group cut their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Truist Financial decreased their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $141.50.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% 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.