Choreo LLC Invests $205,000 in Genuine Parts (NYSE:GPC)

Choreo LLC bought a new position in Genuine Parts (NYSE:GPC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,468 shares of the specialty retailer’s stock, valued at approximately $205,000.

A number of other hedge funds have also added to or reduced their stakes in GPC. SVB Wealth LLC increased its holdings in Genuine Parts by 35.9% in the third quarter. SVB Wealth LLC now owns 3,773 shares of the specialty retailer’s stock worth $545,000 after purchasing an additional 996 shares in the last quarter. Telemus Capital LLC increased its holdings in Genuine Parts by 346.5% in the third quarter. Telemus Capital LLC now owns 6,385 shares of the specialty retailer’s stock worth $922,000 after purchasing an additional 4,955 shares in the last quarter. Cambridge Trust Co. increased its holdings in Genuine Parts by 27.7% in the third quarter. Cambridge Trust Co. now owns 9,693 shares of the specialty retailer’s stock worth $1,399,000 after purchasing an additional 2,104 shares in the last quarter. Community Bank N.A. bought a new stake in Genuine Parts in the third quarter worth approximately $433,000. Finally, Simmons Bank grew its stake in Genuine Parts by 8.1% in the third quarter. Simmons Bank now owns 16,051 shares of the specialty retailer’s stock valued at $2,317,000 after acquiring an additional 1,208 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the company’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 transaction, 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 can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 0.7 %

GPC stock opened at $157.41 on Friday. The stock has a market cap of $21.93 billion, a P/E ratio of 17.55 and a beta of 0.94. 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 stock’s fifty day simple moving average is $153.39 and its two-hundred day simple moving average is $143.28. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.14 EPS. Analysts expect that Genuine Parts will post 9.94 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Wall Street Analyst Weigh In

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

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.