Fiduciary Group LLC Sells 121 Shares of Genuine Parts (NYSE:GPC)

Fiduciary Group LLC trimmed its holdings in Genuine Parts (NYSE:GPC) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,343 shares of the specialty retailer’s stock after selling 121 shares during the period. Fiduciary Group LLC’s holdings in Genuine Parts were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GPC. State Street Corp raised its holdings in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after acquiring an additional 401,180 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Genuine Parts by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after purchasing an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Genuine Parts by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after purchasing an additional 145,960 shares during the period. Stifel Financial Corp increased its stake in shares of Genuine Parts by 1.2% during the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after purchasing an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after buying an additional 114,180 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Trading Down 3.2 %

NYSE GPC opened at $120.60 on Friday. The company has a fifty day simple moving average of $120.93 and a two-hundred day simple moving average of $125.00. The stock has a market cap of $16.74 billion, a P/E ratio of 18.64 and a beta of 0.93. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the business earned $2.26 earnings per share. On average, analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.42%. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Analyst Ratings Changes

Several research firms have recently issued reports on GPC. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $137.63.

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.