Metis Global Partners LLC Has $541,000 Stake in Genuine Parts (NYSE:GPC)

Metis Global Partners LLC grew its holdings in Genuine Parts (NYSE:GPC) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,633 shares of the specialty retailer’s stock after buying an additional 156 shares during the period. Metis Global Partners LLC’s holdings in Genuine Parts were worth $541,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GPC. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the 4th quarter worth approximately $28,000. Compass Planning Associates Inc acquired a new stake in Genuine Parts during the 4th quarter worth approximately $29,000. Finally, Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the 3rd quarter worth approximately $31,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $123.77 on Thursday. The stock’s fifty day moving average price is $119.21 and its two-hundred day moving average price is $126.29. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a market cap of $17.18 billion, a PE ratio of 19.13 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the company posted $2.26 EPS. As a group, research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.33%. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GPC shares. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Evercore ISI dropped their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight research 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 stock. According to MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus target price 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.