Genuine Parts (NYSE:GPC) Stock Holdings Trimmed by Sound Financial Strategies Group LLC

Sound Financial Strategies Group LLC lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 19.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,226 shares of the specialty retailer’s stock after selling 1,005 shares during the period. Sound Financial Strategies Group LLC’s holdings in Genuine Parts were worth $585,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Genuine Parts by 71.1% during the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after purchasing an additional 1,076,361 shares during the period. International Assets Investment Management LLC increased its position in shares of Genuine Parts by 15,175.4% during the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after purchasing an additional 708,388 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Genuine Parts by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock valued at $345,130,000 after purchasing an additional 367,665 shares during the period. Ameriprise Financial Inc. increased its position 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 valued at $235,916,000 after purchasing an additional 313,438 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Genuine Parts during the 3rd quarter valued at $41,647,000. Institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Evercore ISI decreased their target price on 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, Wedbush restated 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $173.10.

Genuine Parts Stock Down 1.0 %

GPC traded down $1.58 during trading on Wednesday, reaching $161.80. 1,157,701 shares of the stock traded hands, compared to its average volume of 1,064,903. The stock has a market cap of $22.54 billion, a price-to-earnings ratio of 18.04 and a beta of 0.94. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The stock’s 50-day simple moving average is $151.08 and its two-hundred day simple moving average is $142.62.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 earnings per share. As a group, equities research analysts expect that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $1.00 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.47%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.