Kestra Private Wealth Services LLC Raises Stock Position in Genuine Parts (NYSE:GPC)

Kestra Private Wealth Services LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 9.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,124 shares of the specialty retailer’s stock after acquiring an additional 1,359 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Genuine Parts were worth $2,095,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Jefferies Financial Group boosted their price target 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. Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts 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 report on Friday, April 5th. Evercore ISI dropped 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 research note on Tuesday, April 16th. Finally, Truist Financial increased their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $173.10.

Insider Buying and Selling

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

Genuine Parts Stock Performance

Shares of GPC stock opened at $156.77 on Thursday. The company has a market cap of $21.84 billion, a P/E ratio of 17.48 and a beta of 0.94. The firm has a fifty day moving average price of $152.75 and a 200 day moving average price of $143.09. 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 released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the firm posted $2.14 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) 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.