Genuine Parts (NYSE:GPC) Shares Bought by ForthRight Wealth Management LLC

ForthRight Wealth Management LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 12.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,677 shares of the specialty retailer’s stock after buying an additional 500 shares during the period. ForthRight Wealth Management LLC’s holdings in Genuine Parts were worth $546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GPC. Renaissance Technologies LLC acquired a new stake in shares of Genuine Parts in the second quarter valued at approximately $10,900,000. Blair William & Co. IL lifted its position in shares of Genuine Parts by 8.0% in the second quarter. Blair William & Co. IL now owns 10,624 shares of the specialty retailer’s stock valued at $1,470,000 after acquiring an additional 785 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Genuine Parts by 8.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,551 shares of the specialty retailer’s stock worth $1,183,000 after purchasing an additional 656 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Genuine Parts by 45.2% during the second quarter. Canada Pension Plan Investment Board now owns 22,207 shares of the specialty retailer’s stock worth $3,072,000 after acquiring an additional 6,911 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Genuine Parts by 11.7% during the second quarter. Sei Investments Co. now owns 118,676 shares of the specialty retailer’s stock worth $16,413,000 after purchasing an additional 12,437 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Genuine Parts stock opened at $120.10 on Wednesday. The stock has a market cap of $16.70 billion, a P/E ratio of 15.46 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a 50 day moving average of $120.55 and a 200-day moving average of $130.18.

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

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.33%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Insider Activity at Genuine Parts

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GPC. Wedbush lowered their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.50.

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.