PYA Waltman Capital LLC Buys 315 Shares of Genuine Parts (NYSE:GPC)

PYA Waltman Capital LLC grew its holdings in Genuine Parts (NYSE:GPC) by 5.0% in the fourth quarter, HoldingsChannel reports. The fund owned 6,619 shares of the specialty retailer’s stock after buying an additional 315 shares during the period. PYA Waltman Capital LLC’s holdings in Genuine Parts were worth $773,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the third quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new position in Genuine Parts during the 4th quarter worth about $28,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the 3rd quarter valued at $31,000. Synergy Asset Management LLC acquired a new stake in Genuine Parts during the fourth quarter worth approximately $32,000. Finally, Concord Wealth Partners grew its stake in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of GPC stock opened at $123.40 on Friday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business’s fifty day simple moving average is $118.28 and its 200-day simple moving average is $127.27. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a market cap of $17.16 billion, a PE ratio of 19.07 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the business posted $2.26 earnings per share. Analysts expect that Genuine Parts will post 7.91 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 61.82%.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on 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 approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of a number of recent analyst reports. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI dropped their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday. Truist Financial boosted their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $137.63.

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.