Leisure Capital Management Has $1.24 Million Stock Position in Genuine Parts (NYSE:GPC)

Leisure Capital Management trimmed its position in Genuine Parts (NYSE:GPC) by 19.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,938 shares of the specialty retailer’s stock after selling 2,113 shares during the period. Leisure Capital Management’s holdings in Genuine Parts were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Amalgamated Bank boosted its holdings in Genuine Parts by 10.7% in the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after purchasing an additional 4,047 shares during the period. Conning Inc. boosted its holdings in Genuine Parts by 5.9% in the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after purchasing an additional 12,634 shares during the period. Hunter Associates Investment Management LLC boosted its holdings in Genuine Parts by 20.7% in the 4th quarter. Hunter Associates Investment Management LLC now owns 11,891 shares of the specialty retailer’s stock valued at $1,646,000 after purchasing an additional 2,041 shares during the period. Teza Capital Management LLC bought a new stake in Genuine Parts in the 3rd quarter valued at $1,593,000. Finally, Schwartz Investment Counsel Inc. boosted its holdings in Genuine Parts by 26.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock valued at $33,309,000 after purchasing an additional 50,000 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Genuine Parts Price Performance

GPC traded down $1.14 during midday trading on Friday, hitting $159.93. The company had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. 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 company has a market capitalization of $22.28 billion, a PE ratio of 17.83 and a beta of 0.94. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The firm’s 50-day simple moving average is $152.13 and its 200-day simple moving average is $142.98.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $2.14 EPS. Equities research analysts predict that Genuine Parts will post 9.89 EPS for the current fiscal 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 given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale 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 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.