Clean Yield Group Lowers Stake in Genuine Parts (NYSE:GPC)

Clean Yield Group lessened its holdings in Genuine Parts (NYSE:GPC) by 17.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,755 shares of the specialty retailer’s stock after selling 362 shares during the period. Clean Yield Group’s holdings in Genuine Parts were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GPC. JPMorgan Chase & Co. raised its stake in shares of Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after buying an additional 114,180 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Genuine Parts by 45.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,140 shares of the specialty retailer’s stock worth $2,356,000 after acquiring an additional 6,326 shares in the last quarter. State of Alaska Department of Revenue raised its position in Genuine Parts by 66.8% during the fourth quarter. State of Alaska Department of Revenue now owns 38,854 shares of the specialty retailer’s stock worth $4,536,000 after acquiring an additional 15,563 shares during the period. Financial Advocates Investment Management lifted its holdings in Genuine Parts by 49.1% during the fourth quarter. Financial Advocates Investment Management now owns 6,095 shares of the specialty retailer’s stock valued at $712,000 after purchasing an additional 2,006 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Genuine Parts by 5.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 404,470 shares of the specialty retailer’s stock valued at $47,226,000 after purchasing an additional 19,444 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Argus raised Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Evercore ISI decreased their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Finally, Truist Financial increased their price target on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.86.

Genuine Parts Stock Down 0.6%

GPC stock opened at $125.36 on Friday. Genuine Parts has a one year low of $104.01 and a one year high of $149.22. The firm has a market cap of $17.40 billion, a PE ratio of 19.38 and a beta of 0.76. The firm’s 50 day moving average price is $119.68 and its 200-day moving average price is $120.36. 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 (NYSE:GPC) last announced its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.29%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

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.