57,239 Shares in Genuine Parts (NYSE:GPC) Acquired by Blue Chip Partners LLC

Blue Chip Partners LLC acquired a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 57,239 shares of the specialty retailer's stock, valued at approximately $7,928,000.

Several other institutional investors have also added to or reduced their stakes in GPC. HHM Wealth Advisors LLC bought a new position in shares of Genuine Parts in the 4th quarter worth approximately $46,000. Legacy Capital Wealth Partners LLC raised its holdings in Genuine Parts by 7.1% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,749 shares of the specialty retailer's stock worth $381,000 after purchasing an additional 183 shares in the last quarter. Headlands Technologies LLC lifted its position in Genuine Parts by 148.4% during the fourth quarter. Headlands Technologies LLC now owns 7,267 shares of the specialty retailer's stock valued at $1,006,000 after buying an additional 4,342 shares during the period. Citizens Financial Group Inc. RI lifted its position in Genuine Parts by 4.7% during the fourth quarter. Citizens Financial Group Inc. RI now owns 2,882 shares of the specialty retailer's stock valued at $399,000 after buying an additional 129 shares during the period. Finally, Golden State Equity Partners boosted its holdings in shares of 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 buying an additional 892 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $1.39 during trading on Monday, hitting $161.32. 1,055,693 shares of the company's stock traded hands, compared to its average volume of 1,068,763. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The business has a 50-day simple moving average of $152.49 and a 200-day simple moving average of $143.02. The stock has a market capitalization of $22.47 billion, a P/E ratio of 17.98 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion for the quarter, compared to analysts' expectations of $5.84 billion. During the same quarter in the prior year, the business earned $2.14 EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts forecast that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced 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 of this dividend was Thursday, February 29th. This is a positive change from Genuine Parts's previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. Genuine Parts's payout ratio is currently 44.59%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The stock was 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 $2,230,383.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company's stock.

About Genuine Parts

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.