Novare Capital Management LLC Sells 266 Shares of Genuine Parts (NYSE:GPC)

Novare Capital Management LLC lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,797 shares of the specialty retailer’s stock after selling 266 shares during the period. Novare Capital Management LLC’s holdings in Genuine Parts were worth $327,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Geode Capital Management LLC grew its position in Genuine Parts by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after acquiring an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Genuine Parts by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock worth $383,511,000 after purchasing an additional 30,354 shares during the period. Stifel Financial Corp lifted its position in Genuine Parts by 1.2% in the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after purchasing an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after purchasing an additional 114,180 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of a number of recent analyst reports. UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Truist Financial lowered their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $141.50.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

Genuine Parts Price Performance

GPC opened at $117.19 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a market cap of $16.29 billion, a price-to-earnings ratio of 15.08 and a beta of 0.95. The stock has a fifty day simple moving average of $120.21 and a two-hundred day simple moving average of $129.87. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.41%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

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.