Focus Financial Network Inc. Sells 220 Shares of Genuine Parts (NYSE:GPC)

Focus Financial Network Inc. decreased its holdings in Genuine Parts (NYSE:GPC) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,888 shares of the specialty retailer’s stock after selling 220 shares during the period. Focus Financial Network Inc.’s holdings in Genuine Parts were worth $340,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the 3rd quarter valued at about $31,000. Concord Wealth Partners lifted its holdings in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. Synergy Asset Management LLC bought a new position in shares of Genuine Parts in the 4th quarter valued at about $32,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at about $44,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GPC. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Finally, Evercore ISI increased their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Performance

GPC stock opened at $124.63 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The business’s fifty day simple moving average is $118.33 and its two-hundred day simple moving average is $128.01. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of 16.04 and a beta of 0.94.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.21%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Genuine Parts 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.