500 Shares in Genuine Parts (NYSE:GPC) Bought by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. bought a new position in Genuine Parts (NYSE:GPC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 500 shares of the specialty retailer’s stock, valued at approximately $78,000.

Several other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Genuine Parts by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock worth $353,436,000 after purchasing an additional 185,913 shares during the period. Stifel Financial Corp increased its holdings in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Genuine Parts by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after purchasing an additional 313,438 shares during the period. Norges Bank bought a new position in shares of Genuine Parts during the 4th quarter worth about $215,643,000. Finally, Royal Bank of Canada increased its holdings in shares of Genuine Parts by 1.4% during the 3rd quarter. Royal Bank of Canada now owns 1,261,041 shares of the specialty retailer’s stock worth $182,070,000 after purchasing an additional 17,422 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GPC shares. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Wedbush reiterated a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Evercore ISI decreased their target price on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Tuesday. Jefferies Financial Group lifted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, Truist Financial lifted their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $169.00.

Genuine Parts Price Performance

NYSE:GPC traded up $2.13 on Tuesday, reaching $135.98. The stock had a trading volume of 1,025,279 shares, compared to its average volume of 994,840. The company has a market capitalization of $18.94 billion, a P/E ratio of 15.19 and a beta of 0.92. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $147.96 and a 200-day moving average price of $146.55.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 earnings per share. Research analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.94%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.