Genuine Parts (NYSE:GPC) Director Sells $453,870.00 in Stock

Genuine Parts (NYSE:GPC) Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Genuine Parts Stock Down 1.3 %

GPC opened at $149.56 on Thursday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The stock’s fifty day simple moving average is $154.27 and its 200 day simple moving average is $145.42. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The stock has a market cap of $20.83 billion, a PE ratio of 16.67 and a beta of 0.94.

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. As a group, research analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is 44.59%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Burney Co. grew its holdings in Genuine Parts by 2.5% in the 1st quarter. Burney Co. now owns 4,080 shares of the specialty retailer’s stock valued at $632,000 after buying an additional 100 shares in the last quarter. Atria Investments Inc grew its holdings in Genuine Parts by 107.9% in the 1st quarter. Atria Investments Inc now owns 19,374 shares of the specialty retailer’s stock valued at $3,002,000 after buying an additional 10,055 shares in the last quarter. Swedbank AB acquired a new position in Genuine Parts in the 1st quarter valued at $18,647,000. Strategic Wealth Partners Ltd. grew its holdings in Genuine Parts by 24.7% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 2,157 shares of the specialty retailer’s stock valued at $334,000 after buying an additional 427 shares in the last quarter. Finally, Wahed Invest LLC grew its holdings in Genuine Parts by 14.7% in the 1st quarter. Wahed Invest LLC now owns 2,624 shares of the specialty retailer’s stock valued at $407,000 after buying an additional 336 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Evercore ISI cut their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Jefferies Financial Group upped their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Truist Financial upped their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Wedbush reiterated a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.