Kapitalo Investimentos Ltda Sells 2,020 Shares of Genuine Parts (NYSE:GPC)

Kapitalo Investimentos Ltda cut its holdings in shares of Genuine Parts (NYSE:GPC) by 74.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700 shares of the specialty retailer’s stock after selling 2,020 shares during the period. Kapitalo Investimentos Ltda’s holdings in Genuine Parts were worth $97,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GPC. Assetmark Inc. boosted its position in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares during the last quarter. Quarry LP boosted its position in Genuine Parts by 138.7% in the fourth quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 165 shares during the last quarter. Orion Capital Management LLC purchased a new position in Genuine Parts in the third quarter worth about $42,000. Costello Asset Management INC boosted its position in Genuine Parts by 200.0% in the fourth quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 200 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in Genuine Parts in the fourth quarter worth about $46,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.4 %

Shares of GPC opened at $139.34 on Thursday. The business’s 50 day moving average is $149.95 and its 200 day moving average is $146.31. The company has a market capitalization of $19.41 billion, a PE ratio of 15.53 and a beta of 0.92. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last issued its 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. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $2.14 EPS. Research analysts expect that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.