First City Capital Management Inc. Trims Holdings in Genuine Parts (NYSE:GPC)

First City Capital Management Inc. lowered its position in Genuine Parts (NYSE:GPC) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,550 shares of the specialty retailer’s stock after selling 187 shares during the period. First City Capital Management Inc.’s holdings in Genuine Parts were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPC. Commonwealth Equity Services LLC boosted its holdings in Genuine Parts by 8.9% in the second quarter. Commonwealth Equity Services LLC now owns 83,348 shares of the specialty retailer’s stock valued at $11,529,000 after purchasing an additional 6,810 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Genuine Parts in the 2nd quarter valued at about $2,873,000. Farther Finance Advisors LLC raised its holdings in Genuine Parts by 106.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,731 shares of the specialty retailer’s stock worth $232,000 after purchasing an additional 893 shares during the period. nVerses Capital LLC purchased a new position in Genuine Parts during the second quarter worth approximately $69,000. Finally, TIAA Trust National Association grew its holdings in Genuine Parts by 5.7% in the second quarter. TIAA Trust National Association now owns 2,684 shares of the specialty retailer’s stock valued at $371,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Trading Up 0.4 %

Shares of NYSE GPC traded up $0.47 during mid-day trading on Friday, reaching $116.53. 488,444 shares of the company’s stock were exchanged, compared to its average volume of 758,461. The company’s 50-day moving average is $120.83 and its 200-day moving average is $132.11. 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 firm has a market capitalization of $16.20 billion, a price-to-earnings ratio of 15.00 and a beta of 0.95. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

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

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

About Genuine Parts

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.