Genuine Parts (NYSE:GPC) Shares Sold by Knowledge Leaders Capital LLC

Knowledge Leaders Capital LLC reduced its stake in Genuine Parts (NYSE:GPC) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,980 shares of the specialty retailer’s stock after selling 354 shares during the period. Genuine Parts accounts for about 2.4% of Knowledge Leaders Capital LLC’s investment portfolio, making the stock its 11th biggest holding. Knowledge Leaders Capital LLC’s holdings in Genuine Parts were worth $1,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bryn Mawr Capital Management LLC raised its holdings in shares of Genuine Parts by 3.1% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 73,925 shares of the specialty retailer’s stock valued at $10,239,000 after buying an additional 2,254 shares during the last quarter. Semanteon Capital Management LP bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $315,000. Stack Financial Management Inc bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $12,420,000. BIP Wealth LLC raised its holdings in Genuine Parts by 28.4% during the fourth quarter. BIP Wealth LLC now owns 2,261 shares of the specialty retailer’s stock worth $313,000 after purchasing an additional 500 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Genuine Parts by 21.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,876 shares of the specialty retailer’s stock worth $537,000 after purchasing an additional 687 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.7 %

GPC stock traded down $1.14 during mid-day trading on Friday, hitting $159.93. The stock had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. 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 1-year low of $126.35 and a 1-year high of $174.91. The company has a fifty day moving average of $152.13 and a 200 day moving average of $142.98. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 17.83 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share 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 company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the firm posted $2.14 EPS. The business’s revenue was up .3% compared to the same quarter last year. On average, equities analysts expect that Genuine Parts will post 9.89 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. Stockholders of record on Friday, March 1st were issued a dividend of $1.00 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on GPC. Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI dropped their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Truist Financial upped their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $173.10.

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.