Goldman Sachs Group Inc. cut its stake in Genuine Parts Company (NYSE:GPC – Free Report) by 31.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,611,537 shares of the specialty retailer’s stock after selling 748,814 shares during the quarter. Goldman Sachs Group Inc. owned 1.16% of Genuine Parts worth $198,155,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth approximately $25,000. Community Bank N.A. purchased a new stake in shares of Genuine Parts in the third quarter worth approximately $27,000. WPG Advisers LLC raised its stake in shares of Genuine Parts by 213.0% in the fourth quarter. WPG Advisers LLC now owns 241 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 164 shares during the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth approximately $32,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth approximately $33,000. 78.83% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Stock Performance
NYSE:GPC opened at $98.05 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 0.48. The business has a fifty day simple moving average of $103.39 and a two-hundred day simple moving average of $118.33. Genuine Parts Company has a 1 year low of $90.78 and a 1 year high of $151.57. The company has a market capitalization of $13.49 billion, a P/E ratio of 228.02 and a beta of 0.66.
Genuine Parts Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, June 5th. Genuine Parts’s dividend payout ratio (DPR) is currently 988.37%.
Insider Transactions at Genuine Parts
In other Genuine Parts news, insider James F. Howe sold 415 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total value of $43,296.95. Following the completion of the sale, the insider directly owned 25,589 shares of the company’s stock, valued at $2,669,700.37. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.13% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several brokerages have recently commented on GPC. Evercore set a $160.00 price objective on Genuine Parts in a research note on Friday, February 20th. Zacks Research raised Genuine Parts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Truist Financial decreased their price target on Genuine Parts from $127.00 to $124.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Friday, March 27th. Finally, UBS Group decreased their price target on Genuine Parts from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.71.
Read Our Latest Analysis on Genuine Parts
Genuine Parts Company Profile
Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.
Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.
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