Genuine Parts (NYSE:GPC) Shares Bought by Weik Capital Management

Weik Capital Management lifted its stake in shares of Genuine Parts (NYSE:GPC) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,265 shares of the specialty retailer’s stock after purchasing an additional 790 shares during the quarter. Weik Capital Management’s holdings in Genuine Parts were worth $965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GPC. Kingsview Wealth Management LLC raised its stake in Genuine Parts by 18.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,658 shares of the specialty retailer’s stock valued at $511,000 after acquiring an additional 565 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Genuine Parts by 12.9% in the third quarter. Daiwa Securities Group Inc. now owns 20,238 shares of the specialty retailer’s stock worth $2,827,000 after purchasing an additional 2,312 shares during the period. Qsemble Capital Management LP bought a new position in Genuine Parts in the 3rd quarter valued at about $354,000. D.A. Davidson & CO. increased its stake in Genuine Parts by 5.8% during the 3rd quarter. D.A. Davidson & CO. now owns 47,141 shares of the specialty retailer’s stock valued at $6,585,000 after buying an additional 2,581 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Genuine Parts during the 3rd quarter worth about $99,000. 78.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on GPC. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. 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 report on Wednesday, February 19th. Finally, Evercore ISI reduced their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Price Performance

GPC stock opened at $120.54 on Friday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a 50-day moving average of $121.13 and a two-hundred day moving average of $124.28. The firm has a market capitalization of $16.73 billion, a PE ratio of 18.63 and a beta of 0.93. 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 quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. On average, analysts forecast that Genuine Parts will post 7.9 earnings per share for the current 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 issued a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.42%. Genuine Parts’s payout ratio is currently 63.68%.

About Genuine Parts

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.