Genuine Parts (NYSE:GPC) Shares Purchased by Weik Capital Management

Weik Capital Management boosted its holdings in Genuine Parts (NYSE:GPC) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,265 shares of the specialty retailer’s stock after buying an additional 790 shares during the period. Weik Capital Management’s holdings in Genuine Parts were worth $965,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Quantinno Capital Management LP grew its holdings in Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares during the period. Caprock Group LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at $540,000. Verity & Verity LLC increased its holdings in shares of Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after buying an additional 9,199 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Genuine Parts in the 4th quarter worth $21,840,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after acquiring an additional 56,776 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 1.8 %

Shares of GPC opened at $120.54 on Friday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock has a 50-day moving average price of $121.13 and a 200 day moving average price of $124.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company has a market capitalization of $16.73 billion, a P/E ratio of 18.63 and a beta of 0.93.

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. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the prior year, the business posted $2.26 EPS. Sell-side analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 3.42%. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is 63.68%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GPC shares. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI reduced their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average 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.