Oak Asset Management LLC Has $1.37 Million Holdings in Genuine Parts (NYSE:GPC)

Oak Asset Management LLC grew its holdings in Genuine Parts (NYSE:GPC - Free Report) by 61.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,752 shares of the specialty retailer's stock after buying an additional 4,470 shares during the period. Oak Asset Management LLC's holdings in Genuine Parts were worth $1,372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. Code Waechter LLC raised its holdings in Genuine Parts by 14.8% in the 4th quarter. Code Waechter LLC now owns 1,953 shares of the specialty retailer's stock valued at $228,000 after acquiring an additional 252 shares during the period. Leibman Financial Services Inc. increased its stake in shares of Genuine Parts by 20.2% during the fourth quarter. Leibman Financial Services Inc. now owns 25,460 shares of the specialty retailer's stock worth $2,973,000 after purchasing an additional 4,271 shares during the period. First Financial Corp IN bought a new position in shares of Genuine Parts during the fourth quarter worth approximately $44,000. Forza Wealth Management LLC lifted its holdings in Genuine Parts by 10.3% during the 4th quarter. Forza Wealth Management LLC now owns 4,827 shares of the specialty retailer's stock worth $564,000 after purchasing an additional 451 shares during the last quarter. Finally, Brookstone Capital Management grew its holdings in Genuine Parts by 20.5% in the 4th quarter. Brookstone Capital Management now owns 8,470 shares of the specialty retailer's stock valued at $989,000 after buying an additional 1,441 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

Genuine Parts stock traded up $0.48 during mid-day trading on Tuesday, reaching $116.99. The company had a trading volume of 1,208,434 shares, compared to its average volume of 1,110,029. The business has a fifty day simple moving average of $120.94 and a 200 day simple moving average of $130.86. The company has a market cap of $16.27 billion, a P/E ratio of 15.06 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 has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

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

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, December 6th. Genuine Parts's payout ratio is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The stock was 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. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GPC shares. The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Evercore ISI boosted their price objective 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. Wedbush lowered their target price on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Finally, Truist Financial lowered 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. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $139.57.

Genuine Parts 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.