West Paces Advisors Inc. Sells 390 Shares of Genuine Parts (NYSE:GPC)

West Paces Advisors Inc. decreased its position in Genuine Parts (NYSE:GPC) by 20.4% during the 1st quarter, Holdings Channel reports. The firm owned 1,523 shares of the specialty retailer’s stock after selling 390 shares during the period. West Paces Advisors Inc.’s holdings in Genuine Parts were worth $181,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings 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 buying an additional 114,180 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Genuine Parts by 45.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,140 shares of the specialty retailer’s stock valued at $2,356,000 after buying an additional 6,326 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Genuine Parts by 5.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 404,470 shares of the specialty retailer’s stock valued at $47,226,000 after buying an additional 19,444 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Genuine Parts by 6.6% during the 4th quarter. Apollon Wealth Management LLC now owns 3,921 shares of the specialty retailer’s stock valued at $458,000 after buying an additional 242 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Genuine Parts by 28.0% during the 4th quarter. Empowered Funds LLC now owns 33,253 shares of the specialty retailer’s stock valued at $3,883,000 after buying an additional 7,276 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.0%

NYSE:GPC opened at $125.24 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm’s 50-day moving average price is $119.78 and its 200-day moving average price is $120.34. The company has a market capitalization of $17.38 billion, a PE ratio of 19.36 and a beta of 0.76. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $149.22.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results 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 company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. On average, equities analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.29%. Genuine Parts’s payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial upped their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average price target of $130.86.

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.