Genuine Parts (NYSE:GPC) Holdings Cut by SageView Advisory Group LLC

SageView Advisory Group LLC cut its stake in shares of Genuine Parts (NYSE:GPC) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 5,255 shares of the specialty retailer’s stock after selling 207 shares during the quarter. SageView Advisory Group LLC’s holdings in Genuine Parts were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. WealthPlan Investment Management LLC raised its stake in Genuine Parts by 2,571,950.0% during the 3rd quarter. WealthPlan Investment Management LLC now owns 51,441 shares of the specialty retailer’s stock valued at $7,427,000 after acquiring an additional 51,439 shares in the last quarter. NBC Securities Inc. acquired a new position in Genuine Parts during the 3rd quarter valued at about $355,000. Ieq Capital LLC raised its position in shares of Genuine Parts by 2.3% during the 3rd quarter. Ieq Capital LLC now owns 4,341 shares of the specialty retailer’s stock worth $627,000 after buying an additional 98 shares in the last quarter. Lincoln National Corp boosted its holdings in shares of Genuine Parts by 8.9% in the third quarter. Lincoln National Corp now owns 1,989 shares of the specialty retailer’s stock valued at $287,000 after acquiring an additional 163 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Genuine Parts by 10.9% during the third quarter. Victory Capital Management Inc. now owns 258,515 shares of the specialty retailer’s stock valued at $37,324,000 after acquiring an additional 25,394 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $145.22 on Monday. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57. The firm has a market cap of $20.23 billion, a P/E ratio of 16.19 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The business’s fifty day moving average is $153.98 and its two-hundred day moving average is $145.65.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.14 EPS. Equities research analysts forecast that Genuine Parts will post 9.92 earnings per share for the current fiscal 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 2.75%. Genuine Parts’s payout ratio is presently 44.59%.

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.