Skba Capital Management LLC Sells 2,740 Shares of Genuine Parts (NYSE:GPC)

Skba Capital Management LLC decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,060 shares of the specialty retailer’s stock after selling 2,740 shares during the period. Skba Capital Management LLC’s holdings in Genuine Parts were worth $5,728,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. RWA Wealth Partners LLC boosted its stake in Genuine Parts by 13.7% in the 4th quarter. RWA Wealth Partners LLC now owns 2,751 shares of the specialty retailer’s stock valued at $321,000 after buying an additional 332 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Genuine Parts by 13.0% in the 4th quarter. Schroder Investment Management Group now owns 11,105 shares of the specialty retailer’s stock valued at $1,286,000 after purchasing an additional 1,274 shares in the last quarter. Transamerica Financial Advisors Inc. grew its holdings in shares of Genuine Parts by 13.1% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 6,407 shares of the specialty retailer’s stock worth $749,000 after purchasing an additional 741 shares during the last quarter. Allstate Corp acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $487,000. Finally, DnB Asset Management AS lifted its holdings in Genuine Parts by 4.0% during the 4th quarter. DnB Asset Management AS now owns 24,509 shares of the specialty retailer’s stock valued at $2,862,000 after purchasing an additional 936 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on GPC. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight research 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. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Down 1.7 %

NYSE GPC opened at $118.49 on Monday. The stock has a market capitalization of $16.44 billion, a P/E ratio of 18.31 and a beta of 0.93. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. 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 stock has a fifty day moving average of $121.13 and a 200-day moving average of $124.00.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The firm 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 last year, the company earned $2.26 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. 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 yield of 3.48%. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Genuine Parts Company 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.