Compass Planning Associates Inc Acquires New Stake in Genuine Parts (NYSE:GPC)

Compass Planning Associates Inc bought a new position in Genuine Parts (NYSE:GPC) during the 4th quarter, Holdings Channel.com reports. The fund bought 252 shares of the specialty retailer’s stock, valued at approximately $29,000.

A number of other large investors have also made changes to their positions in the company. PYA Waltman Capital LLC grew its holdings in Genuine Parts by 5.0% during the fourth quarter. PYA Waltman Capital LLC now owns 6,619 shares of the specialty retailer’s stock valued at $773,000 after purchasing an additional 315 shares during the period. Capital Investment Counsel Inc increased its holdings in Genuine Parts by 24.7% in the 4th quarter. Capital Investment Counsel Inc now owns 1,820 shares of the specialty retailer’s stock worth $213,000 after acquiring an additional 360 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in Genuine Parts by 6.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 13,367 shares of the specialty retailer’s stock worth $1,561,000 after acquiring an additional 813 shares during the period. Handelsbanken Fonder AB lifted its holdings in Genuine Parts by 16.6% during the fourth quarter. Handelsbanken Fonder AB now owns 90,913 shares of the specialty retailer’s stock valued at $10,615,000 after purchasing an additional 12,945 shares in the last quarter. Finally, Bank of Jackson Hole Trust bought a new position in shares of Genuine Parts in the fourth quarter worth approximately $413,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

GPC stock opened at $123.40 on Friday. 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. The stock has a market cap of $17.16 billion, a PE ratio of 19.07 and a beta of 0.94. The company has a 50-day moving average price of $118.28 and a 200 day moving average price of $127.27.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the business earned $2.26 earnings per share. Equities research analysts anticipate that Genuine Parts will post 7.91 earnings per share for the current year.

Genuine Parts Increases Dividend

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

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s 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 completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial lifted 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. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Evercore ISI dropped their price objective 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. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight equities research 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.63.

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.