Bryn Mawr Capital Management LLC Raises Holdings in Genuine Parts (NYSE:GPC)

Bryn Mawr Capital Management LLC increased its position in Genuine Parts (NYSE:GPC) by 3.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 73,925 shares of the specialty retailer’s stock after buying an additional 2,254 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Genuine Parts were worth $10,239,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Genuine Parts in the 3rd quarter valued at $25,000. Briaud Financial Planning Inc acquired a new stake in Genuine Parts in the 3rd quarter valued at $28,000. Milestone Investment Advisors LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at $28,000. Authentikos Wealth Advisory LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at $40,000. Finally, Orion Capital Management LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at $42,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s 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 sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GPC. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI lowered their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Wedbush reiterated a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group increased their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Truist Financial raised their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Down 0.7 %

NYSE:GPC opened at $159.93 on Friday. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 17.83 and a beta of 0.94. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The stock has a 50-day simple moving average of $152.13 and a 200 day simple moving average of $142.98. 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 (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period last year, the firm earned $2.14 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts predict that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.50%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

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.