Crescent Sterling Ltd. Invests $322,000 in Genuine Parts (NYSE:GPC)

Crescent Sterling Ltd. acquired a new position in shares of Genuine Parts (NYSE:GPC) in the 1st quarter, Holdings Channel reports. The fund acquired 2,080 shares of the specialty retailer’s stock, valued at approximately $322,000.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $25,000. Assetmark Inc. increased its holdings in shares of Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the period. WD Rutherford LLC acquired a new position in shares of Genuine Parts in the 1st quarter valued at $26,000. Briaud Financial Planning Inc acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC traded down $4.16 during trading on Tuesday, hitting $157.21. The stock had a trading volume of 1,558,772 shares, compared to its average volume of 1,074,668. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a market capitalization of $21.90 billion, a P/E ratio of 17.53 and a beta of 0.94. The company’s 50-day moving average price is $152.49 and its 200 day moving average price is $143.02. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the company posted $2.14 EPS. Genuine Parts’s revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GPC. 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 report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Evercore ISI cut their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. 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 report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $173.10.

Genuine Parts Company Profile

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.