Agate Pass Investment Management LLC Acquires 999 Shares of Genuine Parts (NYSE:GPC)

Agate Pass Investment Management LLC raised its position in Genuine Parts (NYSE:GPC) by 6.1% during the first quarter, Holdings Channel reports. The firm owned 17,500 shares of the specialty retailer’s stock after purchasing an additional 999 shares during the period. Genuine Parts comprises 1.5% of Agate Pass Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Agate Pass Investment Management LLC’s holdings in Genuine Parts were worth $2,711,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. CHICAGO TRUST Co NA grew its holdings in shares of Genuine Parts by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 71 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after buying an additional 74 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of Genuine Parts by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock valued at $489,000 after purchasing an additional 76 shares in the last quarter. Grimes & Company Inc. lifted its holdings in shares of Genuine Parts by 2.5% in the fourth quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after purchasing an additional 79 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Genuine Parts by 3.9% in the fourth quarter. Brighton Jones LLC now owns 2,180 shares of the specialty retailer’s stock valued at $302,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.

Genuine Parts Price Performance

Genuine Parts stock traded down $0.83 during mid-day trading on Thursday, hitting $137.24. 132,721 shares of the company traded hands, compared to its average volume of 984,225. Genuine Parts has a one year low of $126.35 and a one year high of $170.57. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of 15.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The stock has a fifty day moving average price of $149.49 and a 200-day moving average price of $146.49.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the firm earned $2.14 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities analysts predict that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio is 44.59%.

Analysts Set New Price Targets

Several analysts recently issued reports on GPC shares. Wedbush reiterated 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. Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Evercore ISI increased their target price on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Finally, Jefferies Financial Group lifted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $172.44.

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.