Berkeley Capital Partners LLC Sells 3,130 Shares of Genuine Parts (NYSE:GPC)

Berkeley Capital Partners LLC decreased its stake in shares of Genuine Parts (NYSE:GPC) by 44.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,885 shares of the specialty retailer’s stock after selling 3,130 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Genuine Parts were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kestra Investment Management LLC acquired a new position in Genuine Parts during the fourth quarter worth $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts in the 4th quarter valued at about $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts in the 4th quarter valued at about $29,000. Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth about $32,000. Finally, OFI Invest Asset Management bought a new stake in shares of Genuine Parts in the 4th quarter valued at about $34,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Evercore ISI reduced their price target 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. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Truist Financial raised their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Up 0.6 %

GPC stock opened at $124.72 on Thursday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a market capitalization of $17.31 billion, a price-to-earnings ratio of 19.28 and a beta of 0.93. The business’s fifty day moving average price is $120.84 and its two-hundred day moving average price is $125.03.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the firm earned $2.26 earnings per share. On average, equities analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business 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 is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.30%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is currently 63.68%.

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.