Genuine Parts (NYSE:GPC) Holdings Boosted by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its holdings in Genuine Parts (NYSE:GPC) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,404 shares of the specialty retailer’s stock after acquiring an additional 1,851 shares during the period. Jacobi Capital Management LLC’s holdings in Genuine Parts were worth $1,331,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GPC. Assenagon Asset Management S.A. lifted its holdings in Genuine Parts by 8.5% in the third quarter. Assenagon Asset Management S.A. now owns 4,627 shares of the specialty retailer’s stock worth $646,000 after acquiring an additional 361 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Genuine Parts by 10.0% in the third quarter. First Trust Direct Indexing L.P. now owns 5,133 shares of the specialty retailer’s stock worth $717,000 after acquiring an additional 466 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Genuine Parts by 12.8% in the third quarter. Pinnacle Associates Ltd. now owns 3,549 shares of the specialty retailer’s stock worth $492,000 after acquiring an additional 404 shares during the last quarter. HM Payson & Co. raised its holdings in shares of Genuine Parts by 20.2% during the third quarter. HM Payson & Co. now owns 3,200 shares of the specialty retailer’s stock valued at $447,000 after buying an additional 537 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Genuine Parts by 5.9% during the third quarter. Stephens Inc. AR now owns 11,725 shares of the specialty retailer’s stock valued at $1,638,000 after buying an additional 657 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 1.9 %

Genuine Parts stock opened at $125.02 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market cap of $17.35 billion, a price-to-earnings ratio of 19.32 and a beta of 0.94. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm’s 50 day moving average price is $118.94 and its two-hundred day moving average price is $126.58.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the business posted $2.26 earnings per share. On average, research analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.30%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GPC shares. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $137.63.

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.