Metis Global Partners LLC Has $541,000 Stake in Genuine Parts (NYSE:GPC)

Metis Global Partners LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 3.5% during the 4th quarter, HoldingsChannel reports. The fund owned 4,633 shares of the specialty retailer’s stock after purchasing an additional 156 shares during the period. Metis Global Partners LLC’s holdings in Genuine Parts were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Poplar Forest Capital LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $5,634,000. Fisher Asset Management LLC boosted its holdings in shares of Genuine Parts by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,915 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 153 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $422,000. Flputnam Investment Management Co. boosted its holdings in shares of Genuine Parts by 12.0% during the 4th quarter. Flputnam Investment Management Co. now owns 9,662 shares of the specialty retailer’s stock valued at $1,128,000 after acquiring an additional 1,036 shares in the last quarter. Finally, Argyle Capital Management LLC boosted its holdings in shares of Genuine Parts by 4.7% during the 4th quarter. Argyle Capital Management LLC now owns 28,261 shares of the specialty retailer’s stock valued at $3,300,000 after acquiring an additional 1,263 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Finally, Evercore ISI cut 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, February 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Up 0.7 %

Shares of NYSE:GPC opened at $123.77 on Thursday. The company has a market capitalization of $17.18 billion, a price-to-earnings ratio of 19.13 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The business’s 50-day moving average is $119.21 and its 200-day moving average is $126.29. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $2.26 EPS. Equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company 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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.33%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

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.