Bryn Mawr Capital Management LLC Boosts Stake in Genuine Parts (NYSE:GPC)

Bryn Mawr Capital Management LLC boosted its holdings in Genuine Parts (NYSE:GPC) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,925 shares of the specialty retailer’s stock after buying an additional 2,254 shares during the period. Bryn Mawr Capital Management LLC owned 0.05% of Genuine Parts worth $10,239,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of GPC. OFI Invest Asset Management purchased a new stake in Genuine Parts in the 3rd quarter worth $25,000. Briaud Financial Planning Inc purchased a new position in shares of Genuine Parts during the third quarter valued at about $28,000. Milestone Investment Advisors LLC purchased a new position in shares of Genuine Parts during the third quarter valued at about $28,000. Authentikos Wealth Advisory LLC purchased a new position in shares of Genuine Parts during the third quarter valued at about $40,000. Finally, Orion Capital Management LLC purchased a new position in shares of Genuine Parts during the third quarter valued at about $42,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the subject of a number of research analyst reports. 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 report on Friday, April 19th. Wedbush restated a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Jefferies Financial Group increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Evercore ISI lowered their price target 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. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $173.10.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $159.93 on Friday. The firm has a market cap of $22.28 billion, a PE ratio of 17.83 and a beta of 0.94. The firm’s 50 day simple moving average is $152.13 and its 200-day simple moving average is $142.98. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $2.14 earnings per share. As a group, equities analysts predict that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $1.00 per share. 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Insider Activity at Genuine Parts

In related news, 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 transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.

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.