Woodley Farra Manion Portfolio Management Inc. Reduces Stock Holdings in Genuine Parts (NYSE:GPC)

Woodley Farra Manion Portfolio Management Inc. cut its stake in Genuine Parts (NYSE:GPC - Free Report) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,762 shares of the specialty retailer's stock after selling 5,012 shares during the quarter. Woodley Farra Manion Portfolio Management Inc.'s holdings in Genuine Parts were worth $2,685,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GPC. Equity Investment Corp purchased a new stake in Genuine Parts during the fourth quarter worth $84,128,000. State Street Corp boosted its position in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Genuine Parts by 1,038.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer's stock worth $38,803,000 after acquiring an additional 253,400 shares in the last quarter. Synovus Financial Corp increased its stake in shares of Genuine Parts by 95.4% during the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock worth $54,708,000 after purchasing an additional 191,272 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth about $21,840,000. Hedge funds and other institutional investors 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 firm's stock in a transaction 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 sale, the director now directly 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 sale 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 insiders.

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Genuine Parts Trading Up 1.9 %

GPC traded up $2.41 during mid-day trading on Thursday, hitting $126.03. 1,289,878 shares of the stock were exchanged, compared to its average volume of 1,124,702. The firm's fifty day moving average is $119.34 and its two-hundred day moving average is $126.27. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a market cap of $17.49 billion, a PE ratio of 19.48 and a beta of 0.94. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the business posted $2.26 earnings per share. Equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.27%. Genuine Parts's dividend payout ratio (DPR) is 63.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a report on Monday, November 11th. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Finally, Truist Financial raised their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Eight equities research 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $137.63.

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.