Anchor Investment Management LLC Buys 560 Shares of Genuine Parts (NYSE:GPC)

Anchor Investment Management LLC boosted its stake in Genuine Parts (NYSE:GPC) by 59.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,503 shares of the specialty retailer’s stock after acquiring an additional 560 shares during the period. Anchor Investment Management LLC’s holdings in Genuine Parts were worth $210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts during the third quarter worth $31,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the period. Triad Wealth Partners LLC bought a new stake in Genuine Parts during the second quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GPC. The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Down 0.5 %

NYSE GPC opened at $121.17 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The business has a 50 day moving average price of $125.55 and a 200-day moving average price of $134.60. The company has a market cap of $16.85 billion, a price-to-earnings ratio of 15.59 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.49 earnings per share. As a group, equities analysts expect that Genuine Parts will post 8.09 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 Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.30%. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.