Genuine Parts (NYSE:GPC) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in Genuine Parts (NYSE:GPCFree Report) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,000 shares of the specialty retailer’s stock after purchasing an additional 2,693 shares during the period. CIBC Asset Management Inc’s holdings in Genuine Parts were worth $3,186,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Assetmark Inc. increased its stake in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter worth $42,000. Costello Asset Management INC grew its stake in shares of Genuine Parts by 200.0% during the fourth quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Genuine Parts in the fourth quarter valued at $46,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred 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 sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were 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 in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GPC shares. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group lifted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Evercore ISI decreased their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $171.33.

Get Our Latest Research Report on GPC

Genuine Parts Trading Up 1.1 %

Shares of GPC stock opened at $144.62 on Friday. The company has a market capitalization of $20.15 billion, a P/E ratio of 16.12 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $151.86 and its two-hundred day moving average is $145.92. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57.

Genuine Parts (NYSE:GPCGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the firm posted $2.14 EPS. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Genuine Parts Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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