Sequoia Financial Advisors LLC Boosts Stock Position in Genuine Parts (NYSE:GPC)

Sequoia Financial Advisors LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,493 shares of the specialty retailer’s stock after purchasing an additional 237 shares during the period. Sequoia Financial Advisors LLC’s holdings in Genuine Parts were worth $1,316,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. North Star Investment Management Corp. lifted its stake in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 70 shares in the last quarter. CHICAGO TRUST Co NA lifted its stake in Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after purchasing an additional 71 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after purchasing an additional 74 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Genuine Parts by 2.2% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after purchasing an additional 76 shares in the last quarter. Finally, Grimes & Company Inc. lifted its stake in Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock worth $440,000 after purchasing an additional 79 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group boosted their price target 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. Evercore ISI decreased their price target on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research note on Tuesday. UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial boosted their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Wedbush restated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $167.75.

Genuine Parts Trading Down 0.7 %

NYSE:GPC traded down $0.93 during mid-day trading on Friday, hitting $132.45. 1,439,443 shares of the stock traded hands, compared to its average volume of 819,575. The stock has a market capitalization of $18.45 billion, a price-to-earnings ratio of 14.76 and a beta of 0.92. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57. The firm’s 50 day moving average is $145.75 and its two-hundred day moving average is $146.30. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69.

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

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 3.02%. Genuine Parts’s payout ratio is 44.59%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

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.