Genuine Parts (NYSE:GPC) Shares Sold by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. cut its stake in Genuine Parts (NYSE:GPC) by 88.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,790 shares of the specialty retailer’s stock after selling 13,156 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Genuine Parts were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in shares of Genuine Parts in the 4th quarter valued at about $25,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. purchased a new position in shares of Genuine Parts during the fourth quarter worth approximately $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts in the 4th quarter valued at $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $120.30 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a one year low of $104.01 and a one year high of $159.77. The company has a market cap of $16.70 billion, a P/E ratio of 18.59 and a beta of 0.82. The business has a fifty day moving average of $118.55 and a two-hundred day moving average of $120.08.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. As a group, analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.42%. Genuine Parts’s dividend payout ratio is presently 67.65%.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent research reports. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $130.86.

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.