Mezzasalma Advisors LLC Has $1.40 Million Holdings in Genuine Parts (NYSE:GPC)

Mezzasalma Advisors LLC reduced its position in Genuine Parts (NYSE:GPC) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,984 shares of the specialty retailer’s stock after selling 2,781 shares during the period. Mezzasalma Advisors LLC’s holdings in Genuine Parts were worth $1,399,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vest Financial LLC raised its stake in shares of Genuine Parts by 40.3% in the fourth quarter. Vest Financial LLC now owns 501,802 shares of the specialty retailer’s stock worth $58,590,000 after purchasing an additional 144,091 shares during the last quarter. Conning Inc. lifted its stake in Genuine Parts by 10.4% during the 4th quarter. Conning Inc. now owns 288,349 shares of the specialty retailer’s stock valued at $33,668,000 after acquiring an additional 27,046 shares in the last quarter. Global X Japan Co. Ltd. boosted its holdings in Genuine Parts by 48.0% during the 4th quarter. Global X Japan Co. Ltd. now owns 4,599 shares of the specialty retailer’s stock worth $537,000 after acquiring an additional 1,491 shares during the last quarter. Fairvoy Private Wealth LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth $7,507,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Genuine Parts by 5.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 404,470 shares of the specialty retailer’s stock valued at $47,226,000 after purchasing an additional 19,444 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s 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 completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GPC. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Truist Financial reduced their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $141.50.

Genuine Parts Stock Performance

Shares of GPC stock opened at $117.77 on Friday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm’s 50 day moving average is $118.70 and its 200 day moving average is $128.47. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $16.37 billion, a P/E ratio of 15.16 and a beta of 0.94.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.40%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Genuine Parts 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.