United Capital Financial Advisors LLC Cuts Stake in Genuine Parts (NYSE:GPC)

United Capital Financial Advisors LLC lessened its stake in Genuine Parts (NYSE:GPC) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,814 shares of the specialty retailer’s stock after selling 2,026 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Genuine Parts were worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Genuine Parts by 2.0% in the 4th 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 in the last quarter. Invesco Ltd. boosted its position in shares of Genuine Parts by 18.9% during the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock valued at $380,898,000 after buying an additional 518,851 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after buying an additional 145,960 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after acquiring an additional 114,180 shares during the period. Finally, Norges Bank purchased a new stake in shares of Genuine Parts during the 4th quarter valued at about $206,645,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.6 %

GPC stock opened at $114.02 on Friday. The business’s 50-day moving average price is $119.81 and its 200-day moving average price is $121.32. The stock has a market cap of $15.82 billion, a P/E ratio of 17.62 and a beta of 0.82. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $163.86.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share 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 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 in the previous year, the firm earned $2.26 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.61%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday. 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 report on Tuesday, April 1st. Evercore ISI raised Genuine Parts from an “in-line” rating to an “outperform” rating and increased their target price for the company from $128.00 to $135.00 in a report on Friday, April 4th. Finally, Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.00.

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.