Hamlin Capital Management LLC lowered its stake in shares of Genuine Parts (NYSE:GPC – Get Rating) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 926,519 shares of the specialty retailer's stock after selling 685 shares during the period. Genuine Parts comprises about 5.7% of Hamlin Capital Management LLC's investment portfolio, making the stock its biggest position. Hamlin Capital Management LLC's holdings in Genuine Parts were worth $160,760,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GPC. Harvey Investment Co. LLC acquired a new position in Genuine Parts in the fourth quarter valued at approximately $208,000. HB Wealth Management LLC grew its stake in shares of Genuine Parts by 3.4% during the fourth quarter. HB Wealth Management LLC now owns 58,950 shares of the specialty retailer's stock worth $10,228,000 after purchasing an additional 1,918 shares in the last quarter. Sterling Investment Counsel LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth $232,000. Quent Capital LLC grew its stake in shares of Genuine Parts by 36.0% during the fourth quarter. Quent Capital LLC now owns 468 shares of the specialty retailer's stock worth $81,000 after purchasing an additional 124 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Genuine Parts by 8.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 12,650 shares of the specialty retailer's stock valued at $2,194,000 after acquiring an additional 970 shares in the last quarter. Hedge funds and other institutional investors own 78.14% of the company's stock.
Get Genuine Parts alerts:Genuine Parts Stock Down 0.5 %
GPC stock traded down $0.79 during trading hours on Wednesday, hitting $160.55. The company's stock had a trading volume of 250,822 shares, compared to its average volume of 1,211,420. The company has a quick ratio of 0.57, a current ratio of 1.15 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $22.61 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.75 and a beta of 0.90. Genuine Parts has a 12 month low of $124.85 and a 12 month high of $187.73. The stock has a 50 day moving average price of $168.76 and a two-hundred day moving average price of $169.79.
Genuine Parts (NYSE:GPC – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.15. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.33 billion. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. Genuine Parts's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 EPS. On average, equities research analysts expect that Genuine Parts will post 8.93 earnings per share for the current year.
Genuine Parts Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 3rd will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, March 2nd. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.37%. This is a boost from Genuine Parts's previous quarterly dividend of $0.90. Genuine Parts's dividend payout ratio (DPR) is 45.73%.
Analysts Set New Price Targets
GPC has been the subject of several recent research reports. StockNews.com started coverage on shares of Genuine Parts in a research note on Thursday, March 16th. They set a "buy" rating for the company. The Goldman Sachs Group raised their target price on shares of Genuine Parts from $147.00 to $157.00 and gave the stock a "sell" rating in a research report on Thursday, February 23rd. Wedbush reissued a "neutral" rating on shares of Genuine Parts in a research note on Friday, February 24th. Finally, Truist Financial raised shares of Genuine Parts from a "hold" rating to a "buy" rating and set a $186.00 price target on the stock in a research note on Friday, March 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $152.20.
About Genuine Parts
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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.
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