Genuine Parts (NYSE:GPC) Shares Acquired by Lafayette Investments Inc.

Lafayette Investments Inc. grew its stake in Genuine Parts (NYSE:GPC) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,835 shares of the specialty retailer’s stock after purchasing an additional 947 shares during the period. Genuine Parts makes up approximately 1.7% of Lafayette Investments Inc.’s portfolio, making the stock its 19th biggest holding. Lafayette Investments Inc.’s holdings in Genuine Parts were worth $6,764,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GPC. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Genuine Parts in the third quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in Genuine Parts during the third quarter worth $25,000. Sunbelt Securities Inc. grew its holdings in Genuine Parts by 122.2% during the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 88 shares during the period. Briaud Financial Planning Inc acquired a new position in Genuine Parts during the third quarter worth $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in Genuine Parts during the third quarter worth $28,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock traded up $1.05 during trading hours on Friday, hitting $161.28. The stock had a trading volume of 377,296 shares, compared to its average volume of 1,017,810. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The stock has a market capitalization of $22.49 billion, a price-to-earnings ratio of 17.31 and a beta of 0.94. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The stock’s fifty day moving average is $149.92 and its two-hundred day moving average is $142.22.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the business earned $2.14 earnings per share. The business’s revenue was up .3% on a year-over-year basis. As a group, analysts predict that Genuine Parts will post 9.66 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 2.48%. 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. Genuine Parts’s dividend payout ratio (DPR) is 42.87%.

Insider Transactions at Genuine Parts

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 value of $503,490.00. Following the transaction, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GPC shares. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI dropped their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday. Wedbush reaffirmed a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a report on Friday. Finally, Truist Financial upped their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.44.

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.