Callan Family Office LLC Makes New $253,000 Investment in Genuine Parts (NYSE:GPC)

Callan Family Office LLC bought a new position in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,171 shares of the specialty retailer’s stock, valued at approximately $253,000.

Several other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in shares of Genuine Parts by 3.6% in the third quarter. Principal Financial Group Inc. now owns 183,533 shares of the specialty retailer’s stock worth $25,636,000 after buying an additional 6,358 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts in the third quarter worth $31,000. CWA Asset Management Group LLC purchased a new stake in shares of Genuine Parts in the third quarter worth $219,000. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts in the third quarter worth $26,000. Finally, Venturi Wealth Management LLC raised its position in shares of Genuine Parts by 4.0% in the third quarter. Venturi Wealth Management LLC now owns 8,424 shares of the specialty retailer’s stock worth $1,177,000 after buying an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial increased 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, February 19th. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Down 4.1 %

GPC opened at $123.74 on Wednesday. The company has a market cap of $17.17 billion, a P/E ratio of 19.13 and a beta of 0.93. The business’s 50-day moving average price is $120.15 and its 200-day moving average price is $125.76. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the business earned $2.26 earnings per share. On average, equities analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is currently 63.68%.

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.