Nicholas Hoffman & Company LLC. Increases Stock Position in Genuine Parts (NYSE:GPC)

Nicholas Hoffman & Company LLC. grew its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 61.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,592 shares of the specialty retailer's stock after buying an additional 6,339 shares during the quarter. Nicholas Hoffman & Company LLC.'s holdings in Genuine Parts were worth $1,937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its stake in shares of Genuine Parts by 284.4% in the third quarter. Exchange Traded Concepts LLC now owns 1,999 shares of the specialty retailer's stock worth $279,000 after purchasing an additional 1,479 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Genuine Parts by 2.9% in the third quarter. Vontobel Holding Ltd. now owns 4,927 shares of the specialty retailer's stock worth $688,000 after purchasing an additional 137 shares during the last quarter. Good Life Advisors LLC bought a new stake in shares of Genuine Parts in the third quarter worth about $262,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Genuine Parts by 1.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,024 shares of the specialty retailer's stock worth $2,238,000 after purchasing an additional 171 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Genuine Parts by 65.4% in the third quarter. Blue Trust Inc. now owns 3,909 shares of the specialty retailer's stock worth $541,000 after purchasing an additional 1,546 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Up 1.1 %

Shares of GPC stock traded up $1.33 during trading hours on Thursday, hitting $123.40. 1,709,121 shares of the company's stock traded hands, compared to its average volume of 1,621,995. The stock's fifty day simple moving average is $118.28 and its two-hundred day simple moving average is $127.27. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 19.07 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 24.99%. During the same quarter last year, the firm earned $2.26 earnings per share. On average, analysts expect that Genuine Parts will post 7.98 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.34%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio (DPR) is 61.82%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred 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 completion of the sale, the director now owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GPC has been the topic of several recent analyst reports. Redburn Atlantic raised Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. UBS Group lowered their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Finally, Wedbush lowered their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Genuine Parts has an average rating of "Hold" and an average target price of $137.63.

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.