Northcape Wealth Management LLC Has $201,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Northcape Wealth Management LLC cut its holdings in Genuine Parts (NYSE:GPC) by 15.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,453 shares of the specialty retailer’s stock after selling 274 shares during the quarter. Northcape Wealth Management LLC’s holdings in Genuine Parts were worth $201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GPC. OFI Invest Asset Management acquired a new position in shares of Genuine Parts in the 3rd quarter valued at approximately $25,000. Briaud Financial Planning Inc acquired a new position in shares of Genuine Parts in the 3rd quarter valued at approximately $28,000. Milestone Investment Advisors LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at approximately $28,000. Authentikos Wealth Advisory LLC acquired a new position in Genuine Parts during the 3rd quarter worth approximately $40,000. Finally, Orion Capital Management LLC acquired a new position in Genuine Parts during the 3rd quarter worth approximately $42,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Evercore ISI reduced their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Jefferies Financial Group upped their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Truist Financial upped their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Wedbush reissued a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average target price of $173.10.

Genuine Parts Price Performance

NYSE:GPC opened at $157.21 on Wednesday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $152.49 and a 200 day simple moving average of $143.02. The stock has a market capitalization of $21.90 billion, a PE ratio of 17.53 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the firm posted $2.14 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts expect that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is 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.