Gallacher Capital Management LLC Acquires New Shares in Genuine Parts (NYSE:GPC)

Gallacher Capital Management LLC bought a new position in Genuine Parts (NYSE:GPC) in the fourth quarter, HoldingsChannel reports. The fund bought 1,847 shares of the specialty retailer’s stock, valued at approximately $256,000.

A number of other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI grew its holdings in Genuine Parts by 6.6% during the 4th quarter. National Bank of Canada FI now owns 112,124 shares of the specialty retailer’s stock worth $15,485,000 after acquiring an additional 6,915 shares during the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in shares of Genuine Parts in the 4th quarter valued at about $212,000. Sapient Capital LLC acquired a new stake in Genuine Parts during the 4th quarter valued at approximately $16,697,000. U.S. Capital Wealth Advisors LLC grew its stake in Genuine Parts by 41.4% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 68,386 shares of the specialty retailer’s stock valued at $9,471,000 after acquiring an additional 20,035 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Genuine Parts by 2.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,010 shares of the specialty retailer’s stock worth $1,110,000 after purchasing an additional 165 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. 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 research note on Friday, April 19th. Jefferies Financial Group raised their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Evercore ISI reduced their target price on shares of 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. 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. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $173.10.

Genuine Parts Price Performance

Shares of NYSE:GPC traded down $0.72 on Monday, hitting $156.69. The company’s stock had a trading volume of 907,200 shares, compared to its average volume of 1,061,680. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The company has a market capitalization of $21.83 billion, a PE ratio of 17.55 and a beta of 0.94. 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 company has a 50-day simple moving average of $153.39 and a 200 day simple moving average of $143.24.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the business earned $2.14 earnings per share. Sell-side analysts forecast that Genuine Parts will post 9.94 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.55%. Genuine Parts’s payout ratio is currently 44.59%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

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.