Weik Capital Management Has $838,000 Holdings in Genuine Parts (NYSE:GPC)

Weik Capital Management increased its holdings in shares of Genuine Parts (NYSE:GPC) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,050 shares of the specialty retailer’s stock after acquiring an additional 420 shares during the period. Weik Capital Management’s holdings in Genuine Parts were worth $838,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. Orion Capital Management LLC bought a new stake in Genuine Parts during the 3rd quarter worth about $42,000. Costello Asset Management INC increased its position in Genuine Parts by 200.0% in the 4th quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 200 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Genuine Parts in the fourth quarter worth about $46,000. Finally, BKM Wealth Management LLC bought a new position in shares of Genuine Parts in the fourth quarter worth about $47,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the sale, the director now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research reports. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Evercore ISI dropped their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Wedbush reiterated a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Truist Financial lifted their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $171.33.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $145.19 on Friday. The company has a market capitalization of $20.22 billion, a price-to-earnings ratio of 16.19 and a beta of 0.92. The firm’s 50 day simple moving average is $151.66 and its 200 day simple moving average is $145.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the firm posted $2.14 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.76%. Genuine Parts’s payout ratio is 44.59%.

About Genuine Parts

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.