Sequoia Financial Advisors LLC Grows Holdings in Genuine Parts (NYSE:GPC)

Sequoia Financial Advisors LLC increased its holdings in Genuine Parts (NYSE:GPC) by 456.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,256 shares of the specialty retailer’s stock after acquiring an additional 6,772 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Genuine Parts were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GPC. Salem Investment Counselors Inc. lifted its holdings in shares of Genuine Parts by 42.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 60 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in Genuine Parts by 3.0% during the first quarter. Wetherby Asset Management Inc. now owns 2,101 shares of the specialty retailer’s stock valued at $352,000 after buying an additional 61 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Genuine Parts by 2.9% in the third quarter. Federated Hermes Inc. now owns 2,402 shares of the specialty retailer’s stock worth $359,000 after acquiring an additional 68 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after acquiring an additional 74 shares during the last quarter. Finally, Financial Counselors Inc. increased its holdings in shares of Genuine Parts by 0.3% during the third quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after acquiring an additional 76 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the business’s 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 completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Price Performance

NYSE GPC opened at $145.38 on Friday. The stock has a market capitalization of $20.27 billion, a price-to-earnings ratio of 15.58 and a beta of 0.94. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The business’s fifty day moving average price is $149.38 and its 200-day moving average price is $142.07.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. Genuine Parts’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 earnings per share. On average, equities analysts predict that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.75%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s payout ratio is 42.87%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GPC. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Wedbush restated a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Truist Financial reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Genuine Parts in a research report on Friday. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.89.

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.