Knowledge Leaders Capital LLC Reduces Position in Genuine Parts (NYSE:GPC)

Knowledge Leaders Capital LLC cut its position in shares of Genuine Parts (NYSE:GPC) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,980 shares of the specialty retailer’s stock after selling 354 shares during the period. Genuine Parts makes up 2.4% of Knowledge Leaders Capital LLC’s portfolio, making the stock its 11th largest holding. Knowledge Leaders Capital LLC’s holdings in Genuine Parts were worth $1,521,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC boosted its position in Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after buying an additional 74 shares during the period. Financial Counselors Inc. boosted its position in Genuine Parts by 0.3% in the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after buying an additional 76 shares during the period. Balentine LLC raised its holdings in shares of Genuine Parts by 2.2% in the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after purchasing an additional 76 shares in the last quarter. Grimes & Company Inc. raised its holdings in shares of Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after purchasing an additional 79 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Genuine Parts by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock valued at $445,000 after purchasing an additional 80 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore ISI reduced 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. Truist Financial boosted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group boosted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Performance

Shares of GPC stock traded down $1.14 during trading hours on Friday, hitting $159.93. The company’s stock had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. The company has a 50 day moving average of $152.13 and a 200 day moving average of $142.98. The stock has a market cap of $22.28 billion, a PE ratio of 17.83 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the firm posted $2.14 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts forecast that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.50%. Genuine Parts’s dividend payout ratio is 44.59%.

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.