Consolidated Planning Corp Sells 894 Shares of Genuine Parts (NYSE:GPC)

Consolidated Planning Corp trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 11.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,766 shares of the specialty retailer’s stock after selling 894 shares during the quarter. Consolidated Planning Corp’s holdings in Genuine Parts were worth $937,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Axxcess Wealth Management LLC grew its position in Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after acquiring an additional 74 shares during the last quarter. Financial Counselors Inc. grew its position in Genuine Parts by 0.3% in the third quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after acquiring an additional 76 shares during the last quarter. Balentine LLC grew its position in Genuine Parts by 2.2% in the third quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after acquiring an additional 76 shares during the last quarter. Grimes & Company Inc. grew its position in Genuine Parts by 2.5% in the fourth quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after acquiring an additional 79 shares during the last quarter. Finally, Fiera Capital Corp boosted its stake in shares of Genuine Parts by 2.7% during the third quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock valued at $445,000 after purchasing an additional 80 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GPC shares. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Wedbush reissued a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Jefferies Financial Group lifted their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Truist Financial lifted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Evercore ISI cut their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $173.10.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 0.7 %

Shares of Genuine Parts stock traded down $1.14 during midday trading on Friday, reaching $159.93. The company had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. The stock has a fifty day moving average price of $152.13 and a 200 day moving average price of $142.98. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The firm has a market cap of $22.28 billion, a PE ratio of 17.83 and a beta of 0.94. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. The company’s revenue was up .3% compared to the same quarter last year. On average, equities analysts anticipate that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a yield of 2.50%. Genuine Parts’s payout ratio is 44.59%.

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.