Stack Financial Management Inc Has $10.36 Million Position in Genuine Parts (NYSE:GPC)

Stack Financial Management Inc lessened its stake in Genuine Parts (NYSE:GPC) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 88,748 shares of the specialty retailer’s stock after selling 2,049 shares during the quarter. Stack Financial Management Inc owned 0.06% of Genuine Parts worth $10,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts in the third quarter valued at about $31,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the 4th quarter worth about $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $29,000. Finally, Concord Wealth Partners grew its stake in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.5 %

Shares of GPC stock opened at $122.19 on Tuesday. 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. The firm’s fifty day simple moving average is $118.36 and its 200 day simple moving average is $126.88. The firm has a market capitalization of $16.99 billion, a P/E ratio of 18.89 and a beta of 0.94.

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

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.37%. 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 dividend payout ratio is presently 63.68%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Truist Financial upped their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.