PGGM Investments Sells 3,943 Shares of Genuine Parts (NYSE:GPC)

PGGM Investments trimmed its stake in shares of Genuine Parts (NYSE:GPC) by 70.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,618 shares of the specialty retailer’s stock after selling 3,943 shares during the quarter. PGGM Investments’ holdings in Genuine Parts were worth $189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the third quarter valued at about $26,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Genuine Parts by 2.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 385,026 shares of the specialty retailer’s stock valued at $53,780,000 after acquiring an additional 7,734 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Genuine Parts by 59.9% in the third quarter. Victory Capital Management Inc. now owns 199,232 shares of the specialty retailer’s stock valued at $27,829,000 after acquiring an additional 74,607 shares in the last quarter. Main Street Financial Solutions LLC grew its stake in Genuine Parts by 44.6% during the third quarter. Main Street Financial Solutions LLC now owns 3,577 shares of the specialty retailer’s stock worth $500,000 after buying an additional 1,104 shares in the last quarter. Finally, KBC Group NV grew its stake in Genuine Parts by 70.4% during the third quarter. KBC Group NV now owns 363,907 shares of the specialty retailer’s stock worth $50,831,000 after buying an additional 150,356 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

Shares of GPC stock opened at $122.16 on Friday. The company has a market cap of $16.95 billion, a price-to-earnings ratio of 18.88 and a beta of 0.93. 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 1.16 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average of $120.41 and a 200-day moving average of $125.54.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate 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 firm posted $2.26 EPS. On average, equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.37%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analyst Ratings Changes

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

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.