Wealthspire Advisors LLC Trims Stock Holdings in Genuine Parts (NYSE:GPC)

Wealthspire Advisors LLC lessened its position in shares of Genuine Parts (NYSE:GPC) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,240 shares of the specialty retailer’s stock after selling 153 shares during the period. Wealthspire Advisors LLC’s holdings in Genuine Parts were worth $1,141,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GPC. OFI Invest Asset Management bought a new stake in shares of Genuine Parts during the third quarter valued at approximately $25,000. Briaud Financial Planning Inc bought a new stake in shares of Genuine Parts during the third quarter valued at about $28,000. Milestone Investment Advisors LLC bought a new position in Genuine Parts in the 3rd quarter valued at about $28,000. Authentikos Wealth Advisory LLC acquired a new position in Genuine Parts during the 3rd quarter valued at about $40,000. Finally, Orion Capital Management LLC acquired a new position in Genuine Parts during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wedbush reissued a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Truist Financial raised their target price 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. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Evercore ISI lowered their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group lifted 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. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $173.10.

Genuine Parts Stock Performance

GPC stock traded down $0.67 during mid-day trading on Friday, reaching $154.67. 21,502 shares of the stock traded hands, compared to its average volume of 1,046,160. 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 52 week low of $126.35 and a 52 week high of $173.78. The business has a 50-day moving average of $153.82 and a two-hundred day moving average of $143.77. The firm has a market capitalization of $21.55 billion, a PE ratio of 17.32 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data 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 during 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 firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.14 earnings per share. As a group, equities analysts predict that Genuine Parts will post 9.94 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.59%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Buying and Selling

In related 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 transaction, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.