Bryn Mawr Capital Management LLC Sells 76,502 Shares of Genuine Parts (NYSE:GPC)

Bryn Mawr Capital Management LLC reduced its stake in shares of Genuine Parts (NYSE:GPC) by 92.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,669 shares of the specialty retailer’s stock after selling 76,502 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Genuine Parts were worth $779,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the 3rd quarter worth about $26,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts in the 4th quarter worth about $28,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the 3rd quarter worth about $31,000. Synergy Asset Management LLC bought a new position in shares of Genuine Parts in the 4th quarter worth about $32,000. Finally, Concord Wealth Partners raised its position 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 worth $38,000 after acquiring an additional 119 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday. Finally, Truist Financial raised their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday. Eight equities research 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. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Price Performance

GPC stock opened at $121.68 on Friday. The company has a market capitalization of $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The business has a 50-day simple moving average of $118.29 and a two-hundred day simple moving average of $127.16.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the business earned $2.26 EPS. Research analysts expect that Genuine Parts will post 7.91 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.39%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 61.82%.

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.