Genuine Parts (NYSE:GPC) Shares Bought by ForthRight Wealth Management LLC

ForthRight Wealth Management LLC lifted its stake in shares of Genuine Parts (NYSE:GPC) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,677 shares of the specialty retailer’s stock after acquiring an additional 500 shares during the quarter. ForthRight Wealth Management LLC’s holdings in Genuine Parts were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Metis Global Partners LLC lifted its holdings in Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after buying an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC raised its position in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after acquiring an additional 91 shares in the last quarter. Marco Investment Management LLC lifted its stake in Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after purchasing an additional 91 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Genuine Parts by 5.9% in the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock valued at $239,000 after purchasing an additional 95 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in shares of Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after buying an additional 103 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $120.10 on Wednesday. The stock has a fifty day moving average price of $120.55 and a 200 day moving average price of $130.18. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market cap of $16.70 billion, a PE ratio of 15.46 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 EPS. Sell-side analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent analyst reports. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target 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.