Sanctuary Advisors LLC Purchases 4,334 Shares of Genuine Parts (NYSE:GPC)

Sanctuary Advisors LLC boosted its holdings in Genuine Parts (NYSE:GPC) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,483 shares of the specialty retailer’s stock after buying an additional 4,334 shares during the quarter. Sanctuary Advisors LLC’s holdings in Genuine Parts were worth $3,129,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts during the third quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts in the third quarter valued at $31,000. Synergy Asset Management LLC bought a new position in Genuine Parts during the 4th quarter worth $32,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts in the 3rd quarter valued at about $44,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 1.3 %

GPC opened at $121.68 on Friday. The company has a fifty day moving average price of $118.29 and a two-hundred day moving average price of $127.07. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a market cap of $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94. 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 (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates 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 previous year, the company posted $2.26 EPS. Analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal 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 issued a $1.03 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI dropped their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.63.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following 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 SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by company insiders.

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.