Genuine Parts (NYSE:GPC) Position Trimmed by Burney Co.

Burney Co. lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,968 shares of the specialty retailer’s stock after selling 112 shares during the quarter. Burney Co.’s holdings in Genuine Parts were worth $549,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GPC. Norges Bank acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $215,643,000. Stifel Financial Corp lifted its holdings in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of Genuine Parts by 3,029.9% during the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after buying an additional 368,470 shares during the last quarter. Morningstar Investment Services LLC lifted its holdings in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after buying an additional 357,091 shares during the last quarter. Finally, Natixis lifted its holdings in shares of Genuine Parts by 768.4% during the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after buying an additional 279,930 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wedbush reduced their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Truist Financial restated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a report on Wednesday. UBS Group reduced their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Finally, The Goldman Sachs Group reduced their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

Shares of GPC stock traded down $0.35 during trading hours on Thursday, reaching $142.16. 255,361 shares of the company’s stock were exchanged, compared to its average volume of 991,285. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The stock has a market capitalization of $19.80 billion, a P/E ratio of 15.96 and a beta of 0.92. The business has a fifty day moving average price of $139.00 and a 200-day moving average price of $146.26. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Analysts predict that Genuine Parts will post 9.36 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend 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.