Y Intercept Hong Kong Ltd Acquires 11,867 Shares of Genuine Parts (NYSE:GPC)

Y Intercept Hong Kong Ltd grew its holdings in shares of Genuine Parts (NYSE:GPC) by 157.6% in the 4th quarter, Holdings Channel reports. The fund owned 19,397 shares of the specialty retailer’s stock after buying an additional 11,867 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Genuine Parts were worth $2,265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $31,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $29,000. Finally, Concord Wealth Partners boosted its stake in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Truist Financial raised their price target 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 dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Up 0.5 %

Shares of NYSE GPC opened at $122.19 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a 50 day simple moving average of $118.36 and a 200 day simple moving average of $126.88. The firm has a market cap of $16.99 billion, a PE ratio of 18.89 and a beta of 0.94.

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

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.37%. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.37% of the company’s stock.

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.