Genuine Parts (NYSE:GPC) Stake Lowered by Skba Capital Management LLC

Skba Capital Management LLC trimmed its position in shares of Genuine Parts (NYSE:GPC) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,060 shares of the specialty retailer’s stock after selling 2,740 shares during the period. Skba Capital Management LLC’s holdings in Genuine Parts were worth $5,728,000 as of its most recent filing with the Securities and Exchange Commission.

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

Genuine Parts Stock Down 1.7 %

GPC opened at $118.49 on Monday. The business has a 50 day moving average of $121.13 and a 200-day moving average of $124.00. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 18.31 and a beta of 0.93. 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 released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating 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 firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the company earned $2.26 EPS. As a group, sell-side analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.48%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s payout ratio is currently 63.68%.

Analysts Set New Price Targets

GPC has been the subject of a number of recent research reports. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Profile

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.