Stolper Co Makes New $5.19 Million Investment in Genuine Parts (NYSE:GPC)

Stolper Co bought a new stake in Genuine Parts (NYSE:GPC) during the fourth quarter, Holdings Channel.com reports. The fund bought 44,485 shares of the specialty retailer’s stock, valued at approximately $5,194,000. Genuine Parts accounts for approximately 1.7% of Stolper Co’s holdings, making the stock its 23rd largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in Genuine Parts in the 3rd quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $31,000. Concord Wealth Partners grew its stake 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 buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts during the third quarter valued at $44,000. Finally, First Financial Corp IN bought a new stake in Genuine Parts during the 4th quarter valued at about $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Genuine Parts 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 value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $117.63 on Thursday. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of 15.14 and a beta of 0.95. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a fifty day simple moving average of $120.95 and a 200-day simple moving average of $130.71. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.49 earnings per share. On average, equities analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.40%. Genuine Parts’s payout ratio is currently 51.48%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Loop Capital began coverage on Genuine Parts in a research note on Thursday. They issued a “buy” rating and a $155.00 price objective for the company. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Finally, Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $141.50.

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.