Richardson Financial Services Inc. Takes Position in Genuine Parts (NYSE:GPC)

Richardson Financial Services Inc. acquired a new stake in shares of Genuine Parts (NYSE:GPC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,050 shares of the specialty retailer’s stock, valued at approximately $145,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assetmark Inc. raised its stake in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares in the last quarter. Quarry LP raised its stake in shares of Genuine Parts by 138.7% during the fourth quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 165 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Genuine Parts during the third quarter valued at about $42,000. Costello Asset Management INC raised its stake in shares of Genuine Parts by 200.0% during the fourth quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 200 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at about $46,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Evercore ISI lowered their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $171.33.

Genuine Parts Trading Down 3.0 %

GPC traded down $4.21 during trading on Friday, reaching $136.70. The company had a trading volume of 1,159,285 shares, compared to its average volume of 753,922. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57. The firm’s 50-day simple moving average is $150.56 and its 200 day simple moving average is $146.19. The company has a market cap of $19.04 billion, a price-to-earnings ratio of 15.24 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the business posted $2.14 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.93%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

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.