Anchor Capital Advisors LLC Sells 64,185 Shares of Genuine Parts (NYSE:GPC)

Anchor Capital Advisors LLC trimmed its holdings in Genuine Parts (NYSE:GPC) by 25.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,469 shares of the specialty retailer’s stock after selling 64,185 shares during the quarter. Anchor Capital Advisors LLC owned about 0.14% of Genuine Parts worth $22,122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Assenagon Asset Management S.A. lifted its position in shares of Genuine Parts by 8.5% during the third quarter. Assenagon Asset Management S.A. now owns 4,627 shares of the specialty retailer’s stock worth $646,000 after purchasing an additional 361 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Genuine Parts by 36.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,814 shares of the specialty retailer’s stock worth $1,951,000 after purchasing an additional 3,718 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Genuine Parts by 56.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 10,014 shares of the specialty retailer’s stock worth $1,399,000 after buying an additional 3,596 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in Genuine Parts by 10.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,133 shares of the specialty retailer’s stock valued at $717,000 after buying an additional 466 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Genuine Parts by 12.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 3,549 shares of the specialty retailer’s stock valued at $492,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.7 %

Shares of NYSE:GPC opened at $122.95 on Friday. The company has a 50 day moving average price of $118.76 and a two-hundred day moving average price of $126.72. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company has a market capitalization of $17.06 billion, a PE ratio of 19.00 and a beta of 0.94. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the prior year, the company earned $2.26 EPS. Analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Insider Activity

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 transaction of $194,214.24. Following the sale, the director now directly 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 is accessible through this link. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GPC has been the topic of several recent research reports. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Evercore ISI lowered their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average price target of $137.63.

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.