Park Avenue Securities LLC Sells 2,589 Shares of Genuine Parts (NYSE:GPC)

Park Avenue Securities LLC decreased its position in Genuine Parts (NYSE:GPC) by 21.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 9,733 shares of the specialty retailer’s stock after selling 2,589 shares during the period. Park Avenue Securities LLC’s holdings in Genuine Parts were worth $1,508,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. increased its position in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Genuine Parts by 149.0% during the 1st quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 152 shares during the last quarter. Quarry LP increased its position in shares of Genuine Parts by 138.7% during the 4th quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 165 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth approximately $42,000. Finally, Costello Asset Management INC increased its position in shares of Genuine Parts by 200.0% during the 4th quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $141.43 on Monday. The stock’s fifty day moving average price is $149.77 and its two-hundred day moving average price is $146.46. The firm has a market cap 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 current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a one year low of $126.35 and a one year high of $170.57.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 EPS. On average, equities analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given 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 Activity

In other news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on 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 directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. 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 Analysts Forecast Growth

A number of research analysts recently weighed in on GPC shares. Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Truist Financial boosted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Evercore ISI boosted their target price on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, Wedbush reissued a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $172.44.

Genuine Parts Company 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.