Wealthfront Advisers LLC Buys 58,894 Shares of Genuine Parts (NYSE:GPC)

Wealthfront Advisers LLC grew its holdings in Genuine Parts (NYSE:GPC - Free Report) by 796.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,290 shares of the specialty retailer's stock after purchasing an additional 58,894 shares during the quarter. Wealthfront Advisers LLC's holdings in Genuine Parts were worth $7,740,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quantinno Capital Management LP boosted its stake in shares of Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock valued at $1,580,000 after purchasing an additional 4,809 shares during the last quarter. Caprock Group LLC bought a new position in Genuine Parts during the 4th quarter worth approximately $540,000. Miramar Capital LLC boosted its stake in Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer's stock worth $12,264,000 after acquiring an additional 7,845 shares during the last quarter. Verity & Verity LLC boosted its stake in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock worth $12,198,000 after acquiring an additional 9,199 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Genuine Parts during the 4th quarter worth approximately $21,840,000. Institutional investors own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GPC. Truist Financial lifted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Evercore ISI reduced their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective on the stock. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $137.63.

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Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the business's stock in a transaction 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 transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Genuine Parts Stock Down 1.7 %

GPC traded down $2.09 during trading on Thursday, reaching $119.24. The company had a trading volume of 1,430,561 shares, compared to its average volume of 1,136,860. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a market cap of $16.55 billion, a P/E ratio of 18.43 and a beta of 0.93. The business's fifty day moving average price is $120.24 and its 200 day moving average price is $125.73.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the company earned $2.26 earnings per share. Equities analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. Genuine Parts's dividend payout ratio (DPR) is 63.68%.

Genuine Parts Company 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.