Genuine Parts (NYSE:GPC) Stock Position Reduced by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC trimmed its position in Genuine Parts (NYSE:GPC) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,877 shares of the specialty retailer’s stock after selling 412 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Genuine Parts were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Genuine Parts by 5.4% in the 3rd 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 period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after acquiring an additional 253,400 shares during the period. Synovus Financial Corp grew its holdings in shares of Genuine Parts by 95.4% during the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after purchasing an additional 191,272 shares during the last quarter. KBC Group NV raised its position in shares of Genuine Parts by 70.4% during the 3rd quarter. KBC Group NV now owns 363,907 shares of the specialty retailer’s stock worth $50,831,000 after purchasing an additional 150,356 shares during the period. Finally, Vest Financial LLC lifted its holdings in shares of Genuine Parts by 40.3% in the 4th quarter. Vest Financial LLC now owns 501,802 shares of the specialty retailer’s stock worth $58,590,000 after purchasing an additional 144,091 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GPC shares. Truist Financial lifted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI reduced their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Loop Capital initiated coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Finally, Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Performance

Genuine Parts stock opened at $122.95 on Friday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm’s 50 day simple moving average is $118.76 and its 200-day simple moving average is $126.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The company has a market cap of $17.06 billion, a P/E ratio of 19.00 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

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.