Allen Mooney & Barnes Investment Advisors LLC Decreases Stake in Genuine Parts (NYSE:GPC)

Allen Mooney & Barnes Investment Advisors LLC cut its stake in Genuine Parts (NYSE:GPC) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,510 shares of the specialty retailer’s stock after selling 198 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Genuine Parts were worth $293,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GPC. Oak Asset Management LLC grew its position in Genuine Parts by 61.4% in the fourth quarter. Oak Asset Management LLC now owns 11,752 shares of the specialty retailer’s stock valued at $1,372,000 after acquiring an additional 4,470 shares in the last quarter. Code Waechter LLC grew its holdings in Genuine Parts by 14.8% during the 4th quarter. Code Waechter LLC now owns 1,953 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 252 shares in the last quarter. Leibman Financial Services Inc. increased its stake in Genuine Parts by 20.2% during the 4th quarter. Leibman Financial Services Inc. now owns 25,460 shares of the specialty retailer’s stock worth $2,973,000 after buying an additional 4,271 shares during the period. First Financial Corp IN acquired a new position in Genuine Parts in the 4th quarter worth $44,000. Finally, Forza Wealth Management LLC boosted its position in Genuine Parts by 10.3% in the 4th quarter. Forza Wealth Management LLC now owns 4,827 shares of the specialty retailer’s stock valued at $564,000 after buying an additional 451 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC opened at $116.99 on Wednesday. The company has a market capitalization of $16.27 billion, a PE ratio of 15.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company’s fifty day moving average price is $120.94 and its 200 day moving average price is $130.86.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.49 EPS. As a group, analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.42%. Genuine Parts’s payout ratio is 51.48%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value 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 document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on GPC shares. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Wedbush dropped their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. UBS Group dropped their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $139.57.

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.