MainStreet Investment Advisors LLC Cuts Position in Genuine Parts (NYSE:GPC)

MainStreet Investment Advisors LLC cut its stake in Genuine Parts (NYSE:GPC) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,043 shares of the specialty retailer’s stock after selling 2,737 shares during the period. MainStreet Investment Advisors LLC’s holdings in Genuine Parts were worth $4,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in Genuine Parts in the fourth quarter worth $25,000. Kestra Investment Management LLC purchased a new stake in Genuine Parts during the fourth quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts during the fourth quarter valued at about $28,000. Compass Planning Associates Inc purchased a new position in shares of Genuine Parts in the fourth quarter worth about $29,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Genuine Parts in the 4th quarter valued at about $32,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.6%

Shares of GPC stock opened at $121.29 on Wednesday. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $158.65. The stock has a market cap of $16.83 billion, a P/E ratio of 18.75 and a beta of 0.76. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a 50 day simple moving average of $117.82 and a two-hundred day simple moving average of $119.53.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. The business 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, research analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.40%. Genuine Parts’s dividend payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

GPC has been the topic of several analyst reports. Truist Financial lifted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Evercore ISI reduced their price target on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts 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.