Kanawha Capital Management LLC Buys 3,987 Shares of Genuine Parts (NYSE:GPC)

Kanawha Capital Management LLC increased its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 23.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,272 shares of the specialty retailer's stock after acquiring an additional 3,987 shares during the period. Kanawha Capital Management LLC's holdings in Genuine Parts were worth $2,484,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP boosted its position in Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock valued at $1,580,000 after buying an additional 4,809 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Genuine Parts during the fourth quarter worth approximately $540,000. Miramar Capital LLC increased its stake in Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer's stock valued at $12,264,000 after purchasing an additional 7,845 shares in the last quarter. Verity & Verity LLC increased its stake in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after purchasing an additional 9,199 shares in the last quarter. Finally, Conning Inc. increased its stake in Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer's stock valued at $36,499,000 after purchasing an additional 19,795 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Genuine Parts stock traded down $3.18 during trading hours on Tuesday, reaching $121.72. 3,047,331 shares of the stock were exchanged, compared to its average volume of 1,614,907. The company has a market cap of $16.92 billion, a P/E ratio of 15.67 and a beta of 0.94. 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 has a twelve month low of $112.74 and a twelve month high of $164.45. The stock has a 50 day moving average of $118.27 and a two-hundred day moving average of $127.34.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. During the same period in the prior year, the company posted $2.26 EPS. Equities analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.38%. Genuine Parts's dividend payout ratio (DPR) is currently 51.48%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GPC. Evercore ISI upped their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a report on Tuesday, October 22nd. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 22nd. Finally, Truist Financial dropped their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Eight 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $141.50.

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.