Albion Financial Group UT Acquires 970 Shares of Genuine Parts (NYSE:GPC)

Albion Financial Group UT grew its holdings in Genuine Parts (NYSE:GPC) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,811 shares of the specialty retailer’s stock after acquiring an additional 970 shares during the period. Albion Financial Group UT’s holdings in Genuine Parts were worth $3,379,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in Genuine Parts by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock worth $353,436,000 after acquiring an additional 185,913 shares during the period. Stifel Financial Corp lifted its stake in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Genuine Parts by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after buying an additional 313,438 shares during the period. Norges Bank purchased a new stake in Genuine Parts in the 4th quarter worth $215,643,000. Finally, Royal Bank of Canada raised its holdings in Genuine Parts by 1.4% during the third quarter. Royal Bank of Canada now owns 1,261,041 shares of the specialty retailer’s stock valued at $182,070,000 after acquiring an additional 17,422 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

GPC has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Truist Financial upped their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $167.75.

Genuine Parts Trading Down 1.9 %

Shares of NYSE:GPC traded down $2.60 during trading hours on Wednesday, hitting $133.38. 645,169 shares of the company’s stock traded hands, compared to its average volume of 992,086. The firm has a market capitalization of $18.58 billion, a P/E ratio of 15.16 and a beta of 0.92. The business has a fifty day moving average price of $147.42 and a 200-day moving average price of $146.53. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $170.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last posted 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 return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the business earned $2.14 EPS. Genuine Parts’s revenue was up .3% compared to the same quarter last year. Equities analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s payout ratio is presently 44.59%.

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.