Genuine Parts (NYSE:GPC) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPCFree Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,401 shares of the specialty retailer’s stock after selling 2,750 shares during the period. CIBC Private Wealth Group LLC’s holdings in Genuine Parts were worth $4,903,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its holdings in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares in the last quarter. Orion Capital Management LLC purchased a new stake in Genuine Parts in the 3rd quarter worth $42,000. Costello Asset Management INC increased its holdings in Genuine Parts by 200.0% in the 4th quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 200 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in Genuine Parts in the 4th quarter worth $46,000. Finally, BKM Wealth Management LLC purchased a new stake in Genuine Parts in the 4th quarter worth $47,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GPC. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Evercore ISI dropped their target price 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, April 16th. Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Truist Financial upped their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $171.33.

Get Our Latest Report on GPC

Genuine Parts Trading Up 1.1 %

Shares of GPC stock opened at $144.62 on Friday. The company’s 50-day moving average price is $151.86 and its 200-day moving average price is $145.92. 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 has a market cap of $20.15 billion, a price-to-earnings ratio of 16.12 and a beta of 0.92. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57.

Genuine Parts (NYSE:GPCGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion for 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%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. As a group, equities analysts predict that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Insider Activity

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

Genuine Parts Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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