Charles Schwab Investment Management Inc. Has $353.44 Million Stake in Genuine Parts (NYSE:GPC)

Charles Schwab Investment Management Inc. grew its stake in Genuine Parts (NYSE:GPC) by 7.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,707,699 shares of the specialty retailer’s stock after buying an additional 185,913 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Genuine Parts were worth $353,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. OFI Invest Asset Management bought a new stake in Genuine Parts during the 3rd quarter worth $25,000. Milestone Investment Advisors LLC acquired a new position in shares of Genuine Parts in the third quarter valued at approximately $28,000. Briaud Financial Planning Inc bought a new position in Genuine Parts in the 3rd quarter valued at approximately $28,000. Authentikos Wealth Advisory LLC acquired a new stake in Genuine Parts during the 3rd quarter worth approximately $40,000. Finally, Orion Capital Management LLC bought a new stake in Genuine Parts during the 3rd quarter worth approximately $42,000. 78.83% of the stock is owned by institutional investors.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.

Genuine Parts Trading Down 0.6 %

Shares of GPC stock traded down $0.93 during trading hours on Wednesday, hitting $153.99. 198,384 shares of the company were exchanged, compared to its average volume of 1,053,281. The company has a 50 day simple moving average of $153.64 and a two-hundred day simple moving average of $143.61. The firm has a market cap of $21.45 billion, a P/E ratio of 17.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. 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 the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.14 earnings per share. Equities analysts anticipate that Genuine Parts will post 9.94 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Ratings Changes

Several research firms have recently issued reports on GPC. Truist Financial raised their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. 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 report on Tuesday, April 16th. Jefferies Financial Group increased their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from 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.