Agate Pass Investment Management LLC Purchases 999 Shares of Genuine Parts (NYSE:GPC)

Agate Pass Investment Management LLC boosted its stake in Genuine Parts (NYSE:GPC) by 6.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 17,500 shares of the specialty retailer’s stock after buying an additional 999 shares during the period. Genuine Parts makes up 1.5% of Agate Pass Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Agate Pass Investment Management LLC’s holdings in Genuine Parts were worth $2,711,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GPC. Wealthcare Advisory Partners LLC raised its stake in shares of Genuine Parts by 11.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 13,418 shares of the specialty retailer’s stock valued at $2,079,000 after acquiring an additional 1,426 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Genuine Parts by 255.5% in the first quarter. Sunbelt Securities Inc. now owns 647 shares of the specialty retailer’s stock valued at $100,000 after purchasing an additional 465 shares during the period. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the first quarter valued at approximately $35,000. Riverview Trust Co purchased a new position in Genuine Parts during the first quarter valued at approximately $120,000. Finally, Gateway Investment Advisers LLC grew its stake in Genuine Parts by 1.6% in the 1st quarter. Gateway Investment Advisers LLC now owns 114,539 shares of the specialty retailer’s stock worth $17,746,000 after buying an additional 1,789 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Jefferies Financial Group raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Truist Financial raised their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wedbush reiterated 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. Finally, Evercore ISI increased their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $172.44.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is owned by company insiders.

Genuine Parts Stock Performance

NYSE GPC traded down $0.83 on Thursday, reaching $137.24. The stock had a trading volume of 132,721 shares, compared to its average volume of 984,225. The stock has a market cap of $19.12 billion, a P/E ratio of 15.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The business’s 50-day moving average price is $149.49 and its 200 day moving average price is $146.49. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 earnings per share. As a group, equities analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

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.