Consolidated Planning Corp Trims Stock Holdings in Genuine Parts (NYSE:GPC)

Consolidated Planning Corp trimmed its holdings in Genuine Parts (NYSE:GPC) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,766 shares of the specialty retailer’s stock after selling 894 shares during the quarter. Consolidated Planning Corp’s holdings in Genuine Parts were worth $937,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GPC. Headlands Technologies LLC increased its holdings in Genuine Parts by 148.4% during the 4th quarter. Headlands Technologies LLC now owns 7,267 shares of the specialty retailer’s stock worth $1,006,000 after purchasing an additional 4,342 shares during the period. Citizens Financial Group Inc. RI increased its holdings in Genuine Parts by 4.7% during the 4th quarter. Citizens Financial Group Inc. RI now owns 2,882 shares of the specialty retailer’s stock worth $399,000 after purchasing an additional 129 shares during the period. Golden State Equity Partners boosted its position in Genuine Parts by 21.7% during the 4th quarter. Golden State Equity Partners now owns 5,005 shares of the specialty retailer’s stock valued at $693,000 after acquiring an additional 892 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in Genuine Parts by 3.1% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 73,925 shares of the specialty retailer’s stock valued at $10,239,000 after acquiring an additional 2,254 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new stake in Genuine Parts during the 4th quarter valued at $315,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

GPC stock traded down $1.14 during midday trading on Friday, reaching $159.93. The stock had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. The stock has a market cap of $22.28 billion, a PE ratio of 17.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a fifty day simple moving average of $152.13 and a two-hundred day simple moving average of $142.98. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $2.14 EPS. As a group, equities research analysts anticipate that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

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

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.