Genuine Parts (NYSE:GPC) Shares Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC boosted its stake in shares of Genuine Parts (NYSE:GPCFree Report) by 1.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 97,673 shares of the specialty retailer’s stock after purchasing an additional 1,429 shares during the period. Genuine Parts makes up approximately 1.4% of Foster Victor Wealth Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Foster Victor Wealth Advisors LLC’s holdings in Genuine Parts were worth $13,524,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in Genuine Parts by 3.0% during the 4th quarter. Fifth Third Bancorp now owns 14,536 shares of the specialty retailer’s stock worth $2,013,000 after purchasing an additional 418 shares during the period. Realta Investment Advisors acquired a new stake in Genuine Parts during the 4th quarter worth about $239,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of Genuine Parts by 2.9% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 3,449 shares of the specialty retailer’s stock valued at $478,000 after acquiring an additional 98 shares during the period. Patron Partners LLC grew its position in shares of Genuine Parts by 2.9% during the 4th quarter. Patron Partners LLC now owns 3,756 shares of the specialty retailer’s stock valued at $520,000 after acquiring an additional 106 shares during the period. Finally, Caprock Group LLC grew its position in shares of Genuine Parts by 286.1% during the 4th quarter. Caprock Group LLC now owns 8,868 shares of the specialty retailer’s stock valued at $1,237,000 after acquiring an additional 6,571 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Price Performance

GPC traded down $0.26 during trading on Friday, reaching $154.93. The company’s stock had a trading volume of 954,290 shares, compared to its average volume of 959,679. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $147.86 and a two-hundred day simple moving average of $141.89. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 16.61 and a beta of 0.94.

Genuine Parts (NYSE:GPCGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, beating the consensus estimate of $2.20 by $0.06. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.64 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 EPS. As a group, analysts anticipate that Genuine Parts will post 9.77 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, February 29th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is presently 42.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GPC. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial lifted their price objective on Genuine Parts from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Wedbush reiterated a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $167.78.

Get Our Latest Stock Report on Genuine Parts

Insider Activity

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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