Kestra Investment Management LLC Purchases New Position in Genuine Parts (NYSE:GPC)

Kestra Investment Management LLC acquired a new position in shares of Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 237 shares of the specialty retailer’s stock, valued at approximately $28,000.

Other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the third quarter valued at about $31,000. Concord Wealth Partners grew its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Synergy Asset Management LLC bought a new position in Genuine Parts during the fourth quarter worth about $32,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts in the 3rd quarter worth about $44,000. Institutional investors own 78.83% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $121.68 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a market capitalization of $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94. The stock has a fifty day moving average of $118.29 and a 200-day moving average of $127.07.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the firm earned $2.26 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.39%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Analyst Ratings Changes

A number of brokerages have issued reports on GPC. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Evercore ISI dropped their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, Truist Financial raised their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average price target of $137.63.

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.