Genuine Parts (NYSE:GPC) Shares Purchased by Golden State Equity Partners

Golden State Equity Partners boosted its holdings in Genuine Parts (NYSE:GPC) by 21.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,005 shares of the specialty retailer’s stock after buying an additional 892 shares during the period. Golden State Equity Partners’ holdings in Genuine Parts were worth $693,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in shares of Genuine Parts in the 3rd quarter valued at about $25,000. Briaud Financial Planning Inc acquired a new position in shares of Genuine Parts in the 3rd quarter valued at about $28,000. Milestone Investment Advisors LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $28,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $40,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $42,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded down $1.14 on Friday, hitting $159.93. The company had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. The business has a 50-day simple moving average of $152.13 and a 200-day simple moving average of $142.98. 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 market cap of $22.28 billion, a PE ratio of 17.83 and a beta of 0.94. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.14 EPS. Research analysts expect that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Increases Dividend

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

Insider Activity

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction that occurred on 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 owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GPC shares. Wedbush restated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts 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. Truist Financial boosted their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group boosted 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. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Six 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, the stock 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.