Imprint Wealth LLC Sells 70 Shares of Genuine Parts (NYSE:GPC)

Imprint Wealth LLC cut its position in Genuine Parts (NYSE:GPC) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,511 shares of the specialty retailer’s stock after selling 70 shares during the quarter. Genuine Parts comprises approximately 1.5% of Imprint Wealth LLC’s holdings, making the stock its 14th biggest position. Imprint Wealth LLC’s holdings in Genuine Parts were worth $1,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Genuine Parts by 2.9% in the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after buying an additional 481,039 shares in the last quarter. State Street Corp grew its stake in shares of Genuine Parts by 2.4% in the first quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock valued at $1,209,476,000 after buying an additional 171,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Genuine Parts by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after buying an additional 185,529 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Genuine Parts by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock valued at $497,089,000 after buying an additional 36,774 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Genuine Parts by 71.1% during the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after purchasing an additional 1,076,361 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts 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 transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC traded up $0.57 during midday trading on Tuesday, reaching $145.32. 285,896 shares of the stock were exchanged, compared to its average volume of 965,264. The company has a market cap of $20.26 billion, a P/E ratio of 15.55 and a beta of 0.94. The stock’s 50 day simple moving average is $149.47 and its 200 day simple moving average is $142.08. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. Genuine Parts’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is currently 42.87%.

Analysts Set New Price Targets

GPC has been the subject of several research reports. Evercore ISI cut their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Truist Financial reaffirmed a “buy” rating and set a $167.00 price target on shares of Genuine Parts in a report on Friday. Finally, Wedbush reaffirmed a “neutral” rating and set a $140.00 price target on shares of Genuine Parts in a report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and an average price target of $168.33.

Genuine Parts Company 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.