Oak Asset Management LLC Acquires 4,470 Shares of Genuine Parts (NYSE:GPC)

Oak Asset Management LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 61.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,752 shares of the specialty retailer’s stock after purchasing an additional 4,470 shares during the period. Oak Asset Management LLC’s holdings in Genuine Parts were worth $1,372,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts during the 3rd quarter worth approximately $31,000. Concord Wealth Partners increased its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Genuine Parts in the third quarter valued at approximately $44,000. Finally, First Financial Corp IN purchased a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. UBS Group reduced their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $139.57.

Insider Buying and Selling at Genuine Parts

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

Genuine Parts Price Performance

GPC opened at $116.50 on Tuesday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 14.99 and a beta of 0.95. 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 stock has a fifty day simple moving average of $120.94 and a two-hundred day simple moving average of $130.86.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $2.49 earnings per share. Research analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed 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. This represents a $4.00 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.