Nicholas Hoffman & Company LLC. Purchases 6,339 Shares of Genuine Parts (NYSE:GPC)

Nicholas Hoffman & Company LLC. increased its position in Genuine Parts (NYSE:GPC) by 61.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,592 shares of the specialty retailer’s stock after acquiring an additional 6,339 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Genuine Parts were worth $1,937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts in the third quarter valued at approximately $31,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts in the fourth quarter valued at approximately $32,000. Concord Wealth Partners raised its stake in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts in the third quarter valued at approximately $44,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GPC shares. Wedbush lowered their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. UBS Group decreased their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Up 0.2 %

Shares of NYSE GPC opened at $124.87 on Monday. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94. The firm’s fifty day moving average is $118.36 and its 200 day moving average is $127.61. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

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.