Brighton Jones LLC Has $302,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Brighton Jones LLC grew its holdings in shares of Genuine Parts (NYSE:GPC) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,180 shares of the specialty retailer’s stock after buying an additional 81 shares during the quarter. Brighton Jones LLC’s holdings in Genuine Parts were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. Invesco Ltd. lifted its stake in Genuine Parts by 71.1% during the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after acquiring an additional 1,076,361 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Genuine Parts by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after buying an additional 367,665 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Genuine Parts by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after buying an additional 313,438 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Genuine Parts by 2.0% in the third quarter. Stifel Financial Corp now owns 1,597,765 shares of the specialty retailer’s stock valued at $230,687,000 after acquiring an additional 31,155 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Genuine Parts by 4.3% during the third quarter. Northern Trust Corp now owns 1,491,923 shares of the specialty retailer’s stock valued at $215,404,000 after acquiring an additional 61,764 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GPC. Evercore ISI cut their price objective 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. Truist Financial increased their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Wedbush reissued a “neutral” rating and set 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 target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average price target of $173.10.

Genuine Parts Trading Up 0.7 %

Shares of GPC stock opened at $157.41 on Friday. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of 17.55 and a beta of 0.94. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The company’s fifty day simple moving average is $153.39 and its two-hundred day simple moving average is $143.33.

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, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the business posted $2.14 earnings per share. The company’s revenue was up .3% on a year-over-year basis. As a group, analysts anticipate that Genuine Parts will post 9.94 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $1.00 dividend. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. Genuine Parts’s payout ratio is currently 44.59%.

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.