Legacy Capital Wealth Partners LLC Increases Stock Position in Genuine Parts (NYSE:GPC)

Legacy Capital Wealth Partners LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,749 shares of the specialty retailer’s stock after purchasing an additional 183 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Genuine Parts were worth $381,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Genuine Parts in the third quarter worth $25,000. Briaud Financial Planning Inc purchased a new stake in Genuine Parts during the 3rd quarter worth about $28,000. Milestone Investment Advisors LLC purchased a new position in Genuine Parts in the 3rd quarter valued at about $28,000. Authentikos Wealth Advisory LLC purchased a new position in Genuine Parts in the 3rd quarter valued at about $40,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter worth about $42,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’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 sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Trading Down 0.7 %

Shares of GPC stock opened at $159.93 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The firm’s 50 day moving average price is $152.13 and its two-hundred day moving average price is $142.92. The stock has a market cap of $22.28 billion, a price-to-earnings ratio of 17.83 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the firm posted $2.14 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts anticipate that Genuine Parts will post 9.89 EPS for the current 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 paid a dividend of $1.00 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a yield of 2.50%. Genuine Parts’s payout ratio is 44.59%.

Analysts Set New Price Targets

GPC has been the topic of a number of analyst reports. Evercore ISI decreased their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Truist Financial raised their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Wedbush reissued a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $173.10.

Genuine Parts 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.