Delta Financial Advisors LLC Sells 284 Shares of Genuine Parts (NYSE:GPC)

Delta Financial Advisors LLC trimmed its stake in Genuine Parts (NYSE:GPC) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,077 shares of the specialty retailer’s stock after selling 284 shares during the period. Delta Financial Advisors LLC’s holdings in Genuine Parts were worth $1,673,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Genuine Parts by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after buying an additional 481,039 shares in the last quarter. State Street Corp increased its position in Genuine Parts by 2.4% during the 1st quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock valued at $1,209,476,000 after buying an additional 171,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Genuine Parts by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after buying an additional 185,529 shares in the last quarter. Geode Capital Management LLC increased its position in Genuine Parts by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock valued at $497,089,000 after buying an additional 36,774 shares in the last quarter. Finally, Imprint Wealth LLC increased its position in Genuine Parts by 16,507.5% during the 2nd quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock valued at $261,119,000 after buying an additional 2,595,471 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded up $18.01 during mid-day trading on Thursday, reaching $162.08. 1,870,461 shares of the stock traded hands, compared to its average volume of 998,050. The business has a 50-day moving average of $149.56 and a 200 day moving average of $142.09. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The stock has a market capitalization of $22.60 billion, a PE ratio of 17.33 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the firm earned $2.14 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, analysts predict that Genuine Parts will post 9.76 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Analyst Upgrades and Downgrades

GPC has been the topic of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $167.00 target price on shares of Genuine Parts in a research report on Friday, April 12th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Wedbush reiterated a “neutral” rating and set a $140.00 price target on shares of Genuine Parts in a research note on Friday, February 16th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.33.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the 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 completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

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.