Birch Capital Management LLC Trims Stake in Genuine Parts (NYSE:GPC)

Birch Capital Management LLC lessened its stake in shares of Genuine Parts (NYSE:GPC) by 28.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 15,674 shares of the specialty retailer’s stock after selling 6,150 shares during the period. Birch Capital Management LLC’s holdings in Genuine Parts were worth $1,830,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts in the third quarter worth $31,000. Concord Wealth Partners raised its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $44,000. Finally, Armstrong Advisory Group Inc. increased its stake in Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after buying an additional 141 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.1 %

GPC traded up $0.17 on Tuesday, hitting $117.54. The company had a trading volume of 383,866 shares, compared to its average volume of 924,455. The business’s fifty day simple moving average is $120.86 and its 200 day simple moving average is $131.67. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market cap of $16.34 billion, a PE ratio of 15.13 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the firm posted $2.49 EPS. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

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

Insider Buying and Selling

In related 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 value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GPC has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Evercore ISI raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.57.

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.