Bison Wealth LLC Purchases 261 Shares of Genuine Parts (NYSE:GPC)

Bison Wealth LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 4.8% in the fourth quarter, HoldingsChannel reports. The fund owned 5,702 shares of the specialty retailer’s stock after buying an additional 261 shares during the period. Bison Wealth LLC’s holdings in Genuine Parts were worth $790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Conning Inc. raised its position in shares of Genuine Parts by 5.9% during the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock worth $31,501,000 after acquiring an additional 12,634 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Genuine Parts by 0.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 403,175 shares of the specialty retailer’s stock valued at $55,840,000 after purchasing an additional 3,222 shares during the last quarter. Granite Bay Wealth Management LLC increased its holdings in Genuine Parts by 20.8% in the fourth quarter. Granite Bay Wealth Management LLC now owns 8,445 shares of the specialty retailer’s stock valued at $1,158,000 after purchasing an additional 1,452 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Genuine Parts in the fourth quarter valued at about $441,000. Finally, Louisiana State Employees Retirement System bought a new stake in Genuine Parts in the fourth quarter valued at about $1,177,000. Institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GPC. Truist Financial reiterated a “buy” rating and issued a $167.00 price objective on shares of Genuine Parts in a report on Friday. Wedbush reiterated a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Evercore ISI increased their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Moderate Buy” and an average target price of $168.89.

Genuine Parts Stock Down 0.4 %

GPC stock opened at $144.80 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The stock has a market capitalization of $20.19 billion, a P/E ratio of 15.52 and a beta of 0.94. The business has a 50-day moving average of $149.47 and a 200-day moving average of $142.08. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.06. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. Genuine Parts’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, sell-side analysts anticipate that Genuine Parts will post 9.76 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared 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 is a boost from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a yield of 2.76%. Genuine Parts’s dividend payout ratio is 42.87%.

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.