Genuine Parts Company (NYSE:GPC) Shares Sold by Golden State Equity Partners

Golden State Equity Partners lessened its holdings in shares of Genuine Parts Company (NYSE:GPC) by 8.6% in the first quarter, HoldingsChannel reports. The fund owned 4,121 shares of the specialty retailer’s stock after selling 387 shares during the period. Golden State Equity Partners’ holdings in Genuine Parts were worth $491,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC acquired a new stake in shares of Genuine Parts in the first quarter valued at $3,344,000. Invesco LLC lifted its holdings in shares of Genuine Parts by 14.0% in the first quarter. Invesco LLC now owns 18,454 shares of the specialty retailer’s stock valued at $2,199,000 after buying an additional 2,265 shares during the period. AssuredPartners Investment Advisors LLC acquired a new stake in shares of Genuine Parts in the first quarter valued at $304,000. Asset Management One Co. Ltd. lifted its holdings in shares of Genuine Parts by 6.2% in the first quarter. Asset Management One Co. Ltd. now owns 61,297 shares of the specialty retailer’s stock valued at $7,303,000 after buying an additional 3,567 shares during the period. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Genuine Parts by 1.1% in the first quarter. GHP Investment Advisors Inc. now owns 48,120 shares of the specialty retailer’s stock valued at $5,733,000 after buying an additional 523 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.7%

Shares of Genuine Parts stock opened at $119.14 on Thursday. The stock has a 50-day moving average price of $121.66 and a 200 day moving average price of $119.94. The company has a market cap of $16.54 billion, a P/E ratio of 19.56 and a beta of 0.76. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. As a group, analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

Analyst Ratings Changes

GPC has been the subject of several research analyst reports. The Goldman Sachs Group restated 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. Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Truist Financial upped their target price on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, Argus raised Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.86.

Genuine Parts 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.