Genuine Parts (NYSE:GPC) Position Decreased by Yousif Capital Management LLC

Yousif Capital Management LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,246 shares of the specialty retailer’s stock after selling 4,626 shares during the period. Yousif Capital Management LLC’s holdings in Genuine Parts were worth $9,591,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GPC. Axxcess Wealth Management LLC grew its position in shares of Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after buying an additional 74 shares during the period. Financial Counselors Inc. raised its position in Genuine Parts by 0.3% in the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after buying an additional 76 shares during the last quarter. Balentine LLC lifted its stake in Genuine Parts by 2.2% in the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after acquiring an additional 76 shares in the last quarter. Grimes & Company Inc. lifted its stake in Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after acquiring an additional 79 shares in the last quarter. Finally, Fiera Capital Corp boosted its position in Genuine Parts by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock worth $445,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GPC. Evercore ISI cut their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Truist Financial boosted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group raised their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $173.10.

Insider Activity

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 1.0 %

Shares of NYSE GPC traded down $1.58 during mid-day trading on Wednesday, hitting $161.80. The stock had a trading volume of 1,155,611 shares, compared to its average volume of 1,059,760. The firm has a market cap of $22.54 billion, a P/E ratio of 18.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The business has a 50 day moving average price of $151.08 and a two-hundred day moving average price of $142.62. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the firm posted $2.14 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts anticipate that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $1.00 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.47%. Genuine Parts’s payout ratio is presently 44.59%.

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.