Marks Group Wealth Management Inc Has $1.33 Million Position in Genuine Parts (NYSE:GPC)

Marks Group Wealth Management Inc lowered its stake in Genuine Parts (NYSE:GPC) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,630 shares of the specialty retailer’s stock after selling 1,089 shares during the period. Marks Group Wealth Management Inc’s holdings in Genuine Parts were worth $1,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC lifted its holdings in Genuine Parts by 4.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 84,681 shares of the specialty retailer’s stock valued at $11,728,000 after buying an additional 3,708 shares during the period. CWM LLC grew its stake in shares of Genuine Parts by 22.0% during the fourth quarter. CWM LLC now owns 4,426 shares of the specialty retailer’s stock worth $613,000 after purchasing an additional 798 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Genuine Parts by 1.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,496 shares of the specialty retailer’s stock valued at $1,869,000 after purchasing an additional 220 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Genuine Parts by 26.9% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,423 shares of the specialty retailer’s stock valued at $336,000 after buying an additional 513 shares during the period. Finally, Signaturefd LLC boosted its holdings in Genuine Parts by 11.9% during the fourth quarter. Signaturefd LLC now owns 3,917 shares of the specialty retailer’s stock worth $543,000 after buying an additional 417 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC stock traded up $0.35 during trading hours on Tuesday, reaching $163.44. The stock had a trading volume of 457,958 shares, compared to its average volume of 1,054,564. 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 stock has a 50-day simple moving average of $150.66 and a 200 day simple moving average of $142.49. The stock has a market capitalization of $22.77 billion, a PE ratio of 18.21 and a beta of 0.94. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the business earned $2.14 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts predict that Genuine Parts will post 9.86 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.00 per share. The ex-dividend date was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a yield of 2.45%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Wall Street Analyst Weigh In

A number of analysts recently commented on GPC shares. Wedbush restated a “neutral” rating and issued a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research report on Friday. Truist Financial increased their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group lifted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday. Evercore ISI dropped 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 report on Tuesday, April 16th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $173.10.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’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 transaction of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Company Profile

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.