Archford Capital Strategies LLC Sells 3,730 Shares of Genuine Parts Company (NYSE:GPC)

Archford Capital Strategies LLC reduced its position in shares of Genuine Parts Company (NYSE:GPC) by 68.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,754 shares of the specialty retailer’s stock after selling 3,730 shares during the quarter. Archford Capital Strategies LLC’s holdings in Genuine Parts were worth $209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $25,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts in the 4th quarter worth $28,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Genuine Parts in the 4th quarter worth $33,000. Investors Research Corp increased its holdings in shares of Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 125 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in Genuine Parts in the 4th quarter worth about $34,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $119.14 on Thursday. The firm has a 50 day moving average of $121.66 and a 200 day moving average of $119.94. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 19.56 and a beta of 0.76. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. On average, research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s dividend payout ratio is presently 67.65%.

Analyst Ratings Changes

Several equities research analysts recently commented on GPC shares. Argus upgraded Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. The Goldman Sachs Group reiterated 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. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. 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 report on Thursday, April 24th. Finally, Evercore ISI cut their target price on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.