Park Avenue Securities LLC Sells 1,718 Shares of Genuine Parts (NYSE:GPC)

Park Avenue Securities LLC decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,961 shares of the specialty retailer’s stock after selling 1,718 shares during the period. Park Avenue Securities LLC’s holdings in Genuine Parts were worth $696,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in Genuine Parts by 1,368.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 67,955 shares of the specialty retailer’s stock worth $7,934,000 after buying an additional 63,328 shares in the last quarter. Oak Asset Management LLC grew its holdings in Genuine Parts by 61.4% during the fourth quarter. Oak Asset Management LLC now owns 11,752 shares of the specialty retailer’s stock valued at $1,372,000 after purchasing an additional 4,470 shares during the period. Code Waechter LLC increased its position in shares of Genuine Parts by 14.8% in the 4th quarter. Code Waechter LLC now owns 1,953 shares of the specialty retailer’s stock valued at $228,000 after buying an additional 252 shares in the last quarter. Leibman Financial Services Inc. increased its holdings in shares of Genuine Parts by 20.2% in the fourth quarter. Leibman Financial Services Inc. now owns 25,460 shares of the specialty retailer’s stock worth $2,973,000 after acquiring an additional 4,271 shares in the last quarter. Finally, First Financial Corp IN acquired a new stake in Genuine Parts during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

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

Genuine Parts Stock Performance

NYSE:GPC opened at $117.66 on Thursday. The business has a fifty day simple moving average of $120.43 and a two-hundred day simple moving average of $130.09. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market capitalization of $16.36 billion, a P/E ratio of 15.14 and a beta of 0.95.

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

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

GPC has been the topic of several research reports. Truist Financial cut their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. UBS Group dropped their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.