Bryn Mawr Capital Management LLC Sells 76,502 Shares of Genuine Parts (NYSE:GPC)

Bryn Mawr Capital Management LLC lessened its stake in shares of Genuine Parts (NYSE:GPC) by 92.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,669 shares of the specialty retailer’s stock after selling 76,502 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Genuine Parts were worth $779,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of GPC. Metis Global Partners LLC grew its position in Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after buying an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC grew its position in Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after buying an additional 91 shares in the last quarter. Marco Investment Management LLC grew its position in Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after buying an additional 91 shares in the last quarter. Hartford Financial Management Inc. grew its position in Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after buying an additional 99 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in Genuine Parts by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after buying an additional 103 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GPC. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial raised their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Trading Down 1.3 %

NYSE GPC opened at $121.68 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 18.81 and a beta of 0.94. The business’s fifty day moving average is $118.29 and its 200 day moving average is $127.16.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share 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 the consensus estimate of $5.71 billion. During the same quarter last year, the business posted $2.26 EPS. As a group, sell-side analysts expect that Genuine Parts will post 7.91 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 61.82%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction 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 $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.