Kennon Green & Company LLC Reduces Position in Genuine Parts (NYSE:GPC)

Kennon Green & Company LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,394 shares of the specialty retailer’s stock after selling 96 shares during the quarter. Genuine Parts makes up 1.1% of Kennon Green & Company LLC’s portfolio, making the stock its 28th largest holding. Kennon Green & Company LLC’s holdings in Genuine Parts were worth $1,330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GPC. Foundations Investment Advisors LLC raised its position in shares of Genuine Parts by 5.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 5,901 shares of the specialty retailer’s stock valued at $824,000 after purchasing an additional 280 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Genuine Parts by 17.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,793 shares of the specialty retailer’s stock valued at $1,647,000 after purchasing an additional 1,737 shares during the period. Private Advisor Group LLC raised its position in shares of Genuine Parts by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 25,418 shares of the specialty retailer’s stock valued at $3,550,000 after purchasing an additional 799 shares during the period. International Assets Investment Management LLC raised its position in shares of Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the period. Finally, Brighton Jones LLC raised its position in shares of Genuine Parts by 7.1% during the 3rd quarter. Brighton Jones LLC now owns 2,531 shares of the specialty retailer’s stock valued at $354,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GPC shares. Truist Financial raised 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. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Evercore ISI reduced their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $121.68 on Friday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a market capitalization of $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94. The firm has a fifty day simple moving average of $118.29 and a two-hundred day simple moving average of $127.16. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping 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 business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the company posted $2.26 EPS. On average, analysts expect that Genuine Parts will post 7.91 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.39%. Genuine Parts’s payout ratio is currently 61.82%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by corporate insiders.

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.