Marino Stram & Associates LLC Sells 192 Shares of Genuine Parts (NYSE:GPC)

Marino Stram & Associates LLC lessened its stake in Genuine Parts (NYSE:GPC) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,206 shares of the specialty retailer’s stock after selling 192 shares during the period. Marino Stram & Associates LLC’s holdings in Genuine Parts were worth $998,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Genuine Parts by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after purchasing an additional 481,039 shares in the last quarter. State Street Corp lifted its holdings in Genuine Parts by 2.4% during the first quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock worth $1,209,476,000 after buying an additional 171,000 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Genuine Parts by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after acquiring an additional 185,529 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Genuine Parts by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock valued at $497,089,000 after acquiring an additional 36,774 shares during the period. Finally, Imprint Wealth LLC raised its position in shares of Genuine Parts by 16,507.5% in the 2nd quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock worth $261,119,000 after acquiring an additional 2,595,471 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Stock Performance

NYSE GPC traded up $0.96 on Tuesday, hitting $145.71. 446,761 shares of the company’s stock traded hands, compared to its average volume of 967,949. The firm has a market capitalization of $20.31 billion, a PE ratio of 15.55 and a beta of 0.94. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The firm’s 50-day moving average price is $149.47 and its two-hundred day moving average price is $142.08. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, topping the consensus estimate of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period last year, the company earned $2.05 earnings per share. Genuine Parts’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts expect that Genuine Parts will post 9.76 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 2.75%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is currently 42.87%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GPC shares. Wedbush reaffirmed a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. Evercore ISI lowered 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. Truist Financial reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Genuine Parts in a research report on Friday. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.33.

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.