Foster Victor Wealth Advisors LLC Has $6.26 Million Stock Position in Genuine Parts (NYSE:GPC)

Foster Victor Wealth Advisors LLC lessened its stake in Genuine Parts (NYSE:GPC) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,818 shares of the specialty retailer’s stock after selling 21,609 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Genuine Parts were worth $6,260,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its position in shares of Genuine Parts by 66.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,268 shares of the specialty retailer’s stock valued at $729,000 after acquiring an additional 2,095 shares during the period. MBB Public Markets I LLC bought a new position in Genuine Parts during the second quarter worth about $1,236,000. Creative Planning raised its stake in Genuine Parts by 0.5% in the second quarter. Creative Planning now owns 57,077 shares of the specialty retailer’s stock valued at $7,895,000 after buying an additional 280 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Genuine Parts by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,802 shares of the specialty retailer’s stock valued at $1,909,000 after buying an additional 253 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Genuine Parts by 822.2% during the 2nd quarter. Quarry LP now owns 581 shares of the specialty retailer’s stock worth $80,000 after acquiring an additional 518 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC opened at $117.52 on Wednesday. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 15.12 and a beta of 0.95. The stock has a fifty day moving average price of $120.06 and a 200-day moving average price of $129.61. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts Announces Dividend

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

Analyst Ratings Changes

GPC has been the subject of a number of research analyst reports. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Truist Financial dropped their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts 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.