Columbia Asset Management Has $604,000 Position in Genuine Parts (NYSE:GPC)

Columbia Asset Management lessened its position in Genuine Parts (NYSE:GPC) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,175 shares of the specialty retailer’s stock after selling 87 shares during the quarter. Columbia Asset Management’s holdings in Genuine Parts were worth $604,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Genuine Parts by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock worth $391,604,000 after purchasing an additional 65,783 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Genuine Parts by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock valued at $337,428,000 after purchasing an additional 145,960 shares in the last quarter. Stifel Financial Corp increased its stake in Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after buying an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after buying an additional 114,180 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $118.59 on Wednesday. The firm has a market cap of $16.46 billion, a P/E ratio of 18.33 and a beta of 0.93. The business’s 50 day moving average is $121.11 and its 200-day moving average is $123.75. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

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

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.47%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is currently 63.68%.

Analyst Ratings Changes

GPC has been the subject of several analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Evercore ISI increased their price target on shares of Genuine Parts from $125.00 to $128.00 and gave the company an “in-line” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $135.00.

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.