SVB Wealth LLC Acquires 1,003 Shares of Genuine Parts (NYSE:GPC)

SVB Wealth LLC lifted its holdings in Genuine Parts (NYSE:GPC) by 26.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,776 shares of the specialty retailer’s stock after acquiring an additional 1,003 shares during the quarter. SVB Wealth LLC’s holdings in Genuine Parts were worth $662,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Salem Investment Counselors Inc. lifted its holdings in shares of Genuine Parts by 42.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 60 shares during the last quarter. Wetherby Asset Management Inc. raised its holdings in Genuine Parts by 3.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 2,101 shares of the specialty retailer’s stock valued at $352,000 after buying an additional 61 shares during the last quarter. Federated Hermes Inc. raised its holdings in Genuine Parts by 2.9% during the 3rd quarter. Federated Hermes Inc. now owns 2,402 shares of the specialty retailer’s stock valued at $359,000 after buying an additional 68 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after buying an additional 74 shares during the last quarter. Finally, Financial Counselors Inc. raised its holdings in Genuine Parts by 0.3% during the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after buying an additional 76 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 1.3 %

NYSE:GPC opened at $162.39 on Friday. The company has a 50-day moving average price of $150.30 and a 200-day moving average price of $142.34. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The company has a current ratio of 1.14, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. The stock has a market cap of $22.64 billion, a price-to-earnings ratio of 18.10 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $2.14 EPS. Equities analysts predict that Genuine Parts will post 9.85 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.46%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GPC. Wedbush reiterated a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday. Evercore ISI lowered their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday. Jefferies Financial Group upped their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Truist Financial raised their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $173.10.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the SEC, which can be accessed 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.