Kennon Green & Company LLC Decreases Stock Holdings in Genuine Parts (NYSE:GPC)

Kennon Green & Company LLC decreased its position in Genuine Parts (NYSE:GPC) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,394 shares of the specialty retailer’s stock after selling 96 shares during the quarter. Genuine Parts makes up 1.1% of Kennon Green & Company LLC’s investment portfolio, making the stock its 28th largest position. Kennon Green & Company LLC’s holdings in Genuine Parts were worth $1,330,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GPC. International Assets Investment Management LLC increased its position in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after acquiring an additional 580,262 shares during the period. State Street Corp raised its stake in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after buying an additional 401,180 shares in the last quarter. Boston Trust Walden Corp bought a new position in Genuine Parts in the third quarter worth about $39,474,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after buying an additional 253,400 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in Genuine Parts by 95.4% in the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after buying an additional 191,272 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on 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 owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Trading Down 1.3 %

NYSE:GPC opened at $121.68 on Friday. The company’s 50 day moving average price is $118.29 and its 200-day moving average price is $127.16. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 18.81 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating 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 firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 7.91 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.39%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 61.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI decreased their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial raised their target price on shares of 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 shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $137.63.

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.