Wedge Capital Management L L P NC Acquires 13,226 Shares of Genuine Parts (NYSE:GPC)

Wedge Capital Management L L P NC lifted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,584 shares of the specialty retailer's stock after acquiring an additional 13,226 shares during the quarter. Wedge Capital Management L L P NC owned about 0.07% of Genuine Parts worth $11,627,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Genuine Parts during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts in the 3rd quarter worth $31,000. Concord Wealth Partners increased its holdings in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock worth $38,000 after purchasing an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts during the third quarter valued at about $44,000. Finally, Armstrong Advisory Group Inc. grew its position in Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer's stock worth $51,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction 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 owns 11,357 shares of the company's stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.37% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE GPC traded down $0.99 during trading on Friday, reaching $118.43. The company had a trading volume of 2,448,055 shares, compared to its average volume of 983,311. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The business's 50 day moving average price is $120.69 and its 200-day moving average price is $130.37. The stock has a market cap of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.49 EPS. Analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared 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 is 51.48%.

Wall Street Analysts Forecast Growth

GPC has been the subject of several recent research reports. Redburn Atlantic raised Genuine Parts to a "hold" rating in a report on Monday, November 11th. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday. They issued a "buy" rating and a $155.00 target price for the company. Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Truist Financial lowered their price target on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Finally, Evercore ISI lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $141.50.

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.