Genuine Parts (NYSE:GPC) Shares Bought by Stephens Inc. AR

Stephens Inc. AR grew its stake in Genuine Parts (NYSE:GPC) by 350.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,854 shares of the specialty retailer’s stock after buying an additional 41,129 shares during the quarter. Stephens Inc. AR’s holdings in Genuine Parts were worth $6,171,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $31,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts during the fourth quarter worth $32,000. Concord Wealth Partners grew its position in Genuine Parts by 79.3% during 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. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts in the third quarter valued at $44,000. Hedge funds and other institutional investors 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 firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Trading Down 0.2 %

Shares of GPC stock opened at $117.77 on Monday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. 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 stock’s fifty day moving average is $118.70 and its two-hundred day moving average is $128.35. The firm has a market capitalization of $16.37 billion, a P/E ratio of 15.16 and a beta of 0.94.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. 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 presently 51.48%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GPC shares. JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. UBS Group cut their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Truist Financial cut their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $141.50.

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.