Genuine Parts (NYSE:GPC) Holdings Reduced by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 40.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,770 shares of the specialty retailer’s stock after selling 3,200 shares during the period. Landscape Capital Management L.L.C.’s holdings in Genuine Parts were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cinctive Capital Management LP acquired a new position in Genuine Parts during the 4th quarter worth $9,030,000. Geode Capital Management LLC lifted its holdings in Genuine Parts by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock worth $391,604,000 after purchasing an additional 65,783 shares during the period. National Bank of Canada FI grew its position in Genuine Parts by 5.3% in the 4th quarter. National Bank of Canada FI now owns 71,912 shares of the specialty retailer’s stock valued at $8,397,000 after buying an additional 3,633 shares in the last quarter. Meridian Investment Counsel Inc. increased its stake in Genuine Parts by 3.9% during the 4th quarter. Meridian Investment Counsel Inc. now owns 14,416 shares of the specialty retailer’s stock valued at $1,683,000 after buying an additional 541 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Genuine Parts by 10.2% in the fourth quarter. Franklin Resources Inc. now owns 244,643 shares of the specialty retailer’s stock valued at $28,565,000 after acquiring an additional 22,707 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of GPC opened at $116.80 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a market cap of $16.21 billion, a price-to-earnings ratio of 18.05 and a beta of 0.82. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a 50-day moving average of $121.16 and a two-hundred day moving average of $123.34.

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

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were issued a $1.03 dividend. The ex-dividend date was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.53%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is currently 63.68%.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research analyst reports. Truist Financial upped their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI upgraded Genuine Parts from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $128.00 to $135.00 in a report on Friday. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $135.88.

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.