Genuine Parts (NYSE:GPC) Stock Position Lessened by West Paces Advisors Inc.

West Paces Advisors Inc. lessened its position in Genuine Parts (NYSE:GPC) by 37.9% during the first quarter, Holdings Channel reports. The institutional investor owned 1,965 shares of the specialty retailer’s stock after selling 1,200 shares during the quarter. West Paces Advisors Inc.’s holdings in Genuine Parts were worth $304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. raised its stake in shares of Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the 1st quarter valued at approximately $35,000. Quarry LP raised its stake in Genuine Parts by 138.7% during the fourth quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 165 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Genuine Parts by 149.0% during the 1st quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 152 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new position in shares of Genuine Parts in the 3rd quarter worth approximately $42,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GPC shares. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Evercore ISI upped their price target on Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a research note on Thursday, June 20th. Jefferies Financial Group raised their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Finally, Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.44.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by insiders.

Genuine Parts Stock Performance

GPC stock traded down $1.03 during mid-day trading on Wednesday, hitting $138.07. The company had a trading volume of 603,057 shares, compared to its average volume of 991,205. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a market cap of $19.23 billion, a PE ratio of 15.36 and a beta of 0.92. The stock’s fifty day moving average price is $149.61 and its two-hundred day moving average price is $146.55. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $170.57.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the firm posted $2.14 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts forecast that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

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.