Kestra Private Wealth Services LLC Boosts Stock Position in Genuine Parts (NYSE:GPC)

Kestra Private Wealth Services LLC boosted its stake in shares of Genuine Parts (NYSE:GPC) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,124 shares of the specialty retailer’s stock after buying an additional 1,359 shares during the period. Kestra Private Wealth Services LLC’s holdings in Genuine Parts were worth $2,095,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in Genuine Parts by 71.1% during the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after purchasing an additional 1,076,361 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Genuine Parts by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock valued at $345,130,000 after acquiring an additional 367,665 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Genuine Parts by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after acquiring an additional 313,438 shares during the last quarter. Stifel Financial Corp lifted its position in Genuine Parts by 2.0% in the 3rd quarter. Stifel Financial Corp now owns 1,597,765 shares of the specialty retailer’s stock valued at $230,687,000 after acquiring an additional 31,155 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Genuine Parts by 4.3% during the 3rd quarter. Northern Trust Corp now owns 1,491,923 shares of the specialty retailer’s stock valued at $215,404,000 after purchasing an additional 61,764 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

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

Genuine Parts Trading Down 0.3 %

Shares of GPC stock opened at $156.77 on Thursday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The firm has a fifty day moving average price of $152.75 and a 200-day moving average price of $143.09. The company has a market cap of $21.84 billion, a price-to-earnings ratio of 17.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS 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 firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the company earned $2.14 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, equities analysts predict that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.55%. Genuine Parts’s payout ratio is presently 44.59%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GPC. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Truist Financial upped their target price 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 dropped their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Wedbush reissued a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Jefferies Financial Group raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $173.10.

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.