Czech National Bank Purchases 1,766 Shares of Genuine Parts (NYSE:GPC)

Czech National Bank increased its position in Genuine Parts (NYSE:GPC) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,146 shares of the specialty retailer’s stock after purchasing an additional 1,766 shares during the quarter. Czech National Bank’s holdings in Genuine Parts were worth $3,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts during the third quarter worth $31,000. Concord Wealth Partners raised its stake in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Genuine Parts during the third quarter worth $44,000. Finally, Armstrong Advisory Group Inc. raised its stake in Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 141 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $117.63 on Thursday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The firm has a market cap of $16.35 billion, a PE ratio of 15.14 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The business has a fifty day moving average of $120.95 and a 200-day moving average of $130.71.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.49 earnings per share. On average, equities research analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.40%. Genuine Parts’s payout ratio is 51.48%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GPC. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, UBS Group dropped their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $139.57.

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.