Concord Wealth Partners Decreases Stock Position in Genuine Parts (NYSE:GPC)

Concord Wealth Partners lowered its position in Genuine Parts (NYSE:GPC) by 34.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 405 shares of the specialty retailer’s stock after selling 217 shares during the period. Concord Wealth Partners’ holdings in Genuine Parts were worth $56,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Axxcess Wealth Management LLC increased its holdings in shares of Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after purchasing an additional 74 shares during the last quarter. Financial Counselors Inc. increased its stake in shares of Genuine Parts by 0.3% in the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock worth $3,245,000 after acquiring an additional 76 shares during the last quarter. Balentine LLC raised its holdings in shares of Genuine Parts by 2.2% during the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock worth $513,000 after acquiring an additional 76 shares during the period. Grimes & Company Inc. boosted its position in shares of Genuine Parts by 2.5% during the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after acquiring an additional 79 shares during the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of Genuine Parts by 2.7% in the third quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock valued at $445,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC opened at $157.41 on Friday. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 17.55 and a beta of 0.94. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company has a fifty day simple moving average of $153.39 and a two-hundred day simple moving average of $143.33.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the business earned $2.14 EPS. Genuine Parts’s revenue was up .3% on a year-over-year basis. As a group, equities analysts anticipate that Genuine Parts will post 9.94 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Truist Financial boosted their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Evercore ISI lowered their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group increased their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $173.10.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is accessible 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.