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Avanza Fonder AB Buys Shares of 16,032 Genuine Parts (NYSE:GPC)

Genuine Parts logo with Retail/Wholesale background

Avanza Fonder AB acquired a new stake in Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,032 shares of the specialty retailer's stock, valued at approximately $1,872,000.

A number of other institutional investors also recently bought and sold shares of the stock. Metis Global Partners LLC raised its stake in shares of Genuine Parts by 1.9% in the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer's stock worth $625,000 after purchasing an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC raised its position in Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock valued at $484,000 after acquiring an additional 91 shares in the last quarter. Marco Investment Management LLC lifted its holdings in Genuine Parts by 1.2% in the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer's stock valued at $1,104,000 after acquiring an additional 91 shares during the period. First Citizens Bank & Trust Co. grew its stake in shares of Genuine Parts by 5.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer's stock worth $239,000 after purchasing an additional 95 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer's stock valued at $533,000 after purchasing an additional 103 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 0.8 %

Genuine Parts stock traded down $0.99 during trading on Friday, hitting $118.43. The company had a trading volume of 2,448,055 shares, compared to its average volume of 983,311. The company's 50 day simple moving average is $120.69 and its 200-day simple moving average is $130.37. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 15.24 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion during the quarter, compared to analysts' expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.49 EPS. As a group, analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts's dividend payout ratio (DPR) is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company's stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GPC. StockNews.com cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday. Finally, Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday. 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $141.50.

Read Our Latest Stock Report on Genuine Parts

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.

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

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