GAMMA Investing LLC Takes Position in Genuine Parts (NYSE:GPC)

GAMMA Investing LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,168 shares of the specialty retailer’s stock, valued at approximately $164,000.

Several other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Genuine Parts by 18.7% in the 3rd quarter. SG Americas Securities LLC now owns 11,467 shares of the specialty retailer’s stock worth $1,656,000 after acquiring an additional 1,809 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Genuine Parts by 4.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 6,099 shares of the specialty retailer’s stock worth $881,000 after acquiring an additional 269 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Genuine Parts by 51.9% in the 3rd quarter. Avior Wealth Management LLC now owns 483 shares of the specialty retailer’s stock worth $70,000 after acquiring an additional 165 shares during the last quarter. Advisory Alpha LLC grew its holdings in shares of Genuine Parts by 18.2% in the 3rd quarter. Advisory Alpha LLC now owns 1,961 shares of the specialty retailer’s stock worth $283,000 after acquiring an additional 302 shares during the last quarter. Finally, Czech National Bank grew its holdings in shares of Genuine Parts by 47.6% in the 3rd quarter. Czech National Bank now owns 24,545 shares of the specialty retailer’s stock worth $3,544,000 after acquiring an additional 7,910 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was 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 owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by insiders.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $159.93 on Friday. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The stock has a market capitalization of $22.28 billion, a P/E ratio of 17.83 and a beta of 0.94. The business has a 50-day moving average of $152.13 and a two-hundred day moving average of $142.98.

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. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The firm’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. 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 44.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush reiterated a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Truist Financial lifted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Evercore ISI reduced their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Jefferies Financial Group lifted their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $173.10.

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.