Choreo LLC Invests $205,000 in Genuine Parts (NYSE:GPC)

Choreo LLC bought a new stake in Genuine Parts (NYSE:GPC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,468 shares of the specialty retailer’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amalgamated Bank lifted its stake in shares of Genuine Parts by 10.7% in the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after purchasing an additional 4,047 shares during the period. Conning Inc. lifted its stake in shares of Genuine Parts by 5.9% in the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after purchasing an additional 12,634 shares during the period. Hunter Associates Investment Management LLC lifted its stake in shares of Genuine Parts by 20.7% in the 4th quarter. Hunter Associates Investment Management LLC now owns 11,891 shares of the specialty retailer’s stock valued at $1,646,000 after purchasing an additional 2,041 shares during the period. Teza Capital Management LLC purchased a new position in shares of Genuine Parts in the 3rd quarter valued at approximately $1,593,000. Finally, Schwartz Investment Counsel Inc. lifted its stake in shares of Genuine Parts by 26.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock valued at $33,309,000 after purchasing an additional 50,000 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Stock Up 0.7 %

Genuine Parts stock opened at $157.41 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 17.55 and a beta of 0.94. The stock has a fifty day simple moving average of $153.39 and a two-hundred day simple moving average of $143.28.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. Genuine Parts’s revenue was up .3% compared to the same quarter last year. Equities analysts predict that Genuine Parts will post 9.94 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s payout ratio is currently 44.59%.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wedbush reiterated a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Truist Financial lifted their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $173.10.

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.