Stack Financial Management Inc Has $10.36 Million Stake in Genuine Parts (NYSE:GPC)

Stack Financial Management Inc cut its stake in shares of Genuine Parts (NYSE:GPC) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 88,748 shares of the specialty retailer’s stock after selling 2,049 shares during the period. Stack Financial Management Inc’s holdings in Genuine Parts were worth $10,362,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GPC. Private Advisor Group LLC grew its stake in Genuine Parts by 3.2% during the third quarter. Private Advisor Group LLC now owns 25,418 shares of the specialty retailer’s stock worth $3,550,000 after buying an additional 799 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Genuine Parts by 8.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,627 shares of the specialty retailer’s stock valued at $646,000 after purchasing an additional 361 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Genuine Parts by 36.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,814 shares of the specialty retailer’s stock valued at $1,951,000 after purchasing an additional 3,718 shares during the last quarter. Forsta AP Fonden boosted its stake in Genuine Parts by 14.0% in the third quarter. Forsta AP Fonden now owns 31,800 shares of the specialty retailer’s stock worth $4,442,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Modera Wealth Management LLC grew its holdings in shares of Genuine Parts by 614.2% during the third quarter. Modera Wealth Management LLC now owns 17,190 shares of the specialty retailer’s stock worth $2,401,000 after purchasing an additional 14,783 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Evercore ISI decreased their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Truist Financial boosted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Up 0.5 %

Shares of GPC stock opened at $122.19 on Tuesday. The company has a market capitalization of $16.99 billion, a price-to-earnings ratio of 18.89 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The firm has a fifty day moving average of $118.36 and a 200-day moving average of $126.88. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter last year, the business posted $2.26 EPS. As a group, equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.