Leisure Capital Management Cuts Stock Holdings in Genuine Parts (NYSE:GPC)

Leisure Capital Management reduced its position in shares of Genuine Parts (NYSE:GPC) by 19.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,938 shares of the specialty retailer’s stock after selling 2,113 shares during the period. Leisure Capital Management’s holdings in Genuine Parts were worth $1,238,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Genuine Parts by 71.1% during the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after purchasing an additional 1,076,361 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Genuine Parts by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after purchasing an additional 367,665 shares in the last quarter. Ameriprise Financial Inc. grew its position in Genuine Parts by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after buying an additional 313,438 shares during the period. Stifel Financial Corp grew its position in Genuine Parts by 2.0% during the third quarter. Stifel Financial Corp now owns 1,597,765 shares of the specialty retailer’s stock worth $230,687,000 after buying an additional 31,155 shares during the period. Finally, Northern Trust Corp grew its position in Genuine Parts by 4.3% during the third quarter. Northern Trust Corp now owns 1,491,923 shares of the specialty retailer’s stock worth $215,404,000 after buying an additional 61,764 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of GPC stock traded down $1.14 during trading hours on Friday, hitting $159.93. The company’s stock had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. The business has a fifty day moving average of $152.13 and a 200-day moving average of $142.98. The stock has a market cap of $22.28 billion, a price-to-earnings ratio of 17.83 and a beta of 0.94. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the business earned $2.14 earnings per share. Genuine Parts’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts anticipate that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wedbush restated a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Jefferies Financial Group upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Truist Financial upped their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Evercore ISI lowered their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average price target of $173.10.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

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.