Mission Wealth Management LP Increases Stock Position in Genuine Parts (NYSE:GPC)

Mission Wealth Management LP grew its position in shares of Genuine Parts (NYSE:GPC) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,107 shares of the specialty retailer’s stock after acquiring an additional 147 shares during the period. Mission Wealth Management LP’s holdings in Genuine Parts were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GPC. OFI Invest Asset Management bought a new position in Genuine Parts during the 3rd quarter valued at approximately $25,000. Briaud Financial Planning Inc bought a new position in shares of Genuine Parts during the third quarter valued at approximately $28,000. Milestone Investment Advisors LLC bought a new position in shares of Genuine Parts during the third quarter valued at approximately $28,000. Authentikos Wealth Advisory LLC purchased a new stake in Genuine Parts in the third quarter worth $40,000. Finally, Orion Capital Management LLC bought a new stake in Genuine Parts in the third quarter valued at $42,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 0.7 %

NYSE:GPC opened at $157.41 on Friday. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 17.55 and a beta of 0.94. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average price is $153.39 and its 200-day moving average price is $143.33. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping 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 company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. Genuine Parts’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Genuine Parts will post 9.94 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI decreased their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. 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. Truist Financial increased 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. Finally, Wedbush restated a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $173.10.

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.