Cwm LLC Acquires 1,337 Shares of Genuine Parts (NYSE:GPC)

Cwm LLC raised its holdings in shares of Genuine Parts (NYSE:GPC) by 30.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,763 shares of the specialty retailer’s stock after purchasing an additional 1,337 shares during the quarter. Cwm LLC’s holdings in Genuine Parts were worth $893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. raised its holdings in shares of Genuine Parts by 27.1% in the fourth quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock valued at $433,000 after acquiring an additional 668 shares in the last quarter. ICW Investment Advisors LLC raised its holdings in shares of Genuine Parts by 2.8% in the fourth quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after acquiring an additional 221 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Genuine Parts by 22.0% in the fourth quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after acquiring an additional 26,710 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares in the last quarter. Finally, Conning Inc. raised its holdings in shares of Genuine Parts by 5.9% in the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after acquiring an additional 12,634 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

Shares of GPC stock opened at $141.42 on Friday. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57. The firm has a market capitalization of $19.70 billion, a price-to-earnings ratio of 15.77 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’s 50-day simple moving average is $149.85 and its 200-day simple moving average is $146.27.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping 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 business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm earned $2.14 earnings per share. The company’s revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.83%. Genuine Parts’s payout ratio is 44.59%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The stock was 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GPC. Evercore ISI lifted their price objective on Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a report on Thursday. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $172.44.

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.