Envestnet Asset Management Inc. Sells 35,262 Shares of Genuine Parts (NYSE:GPC)

Envestnet Asset Management Inc. lessened its position in shares of Genuine Parts (NYSE:GPC) by 6.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 532,016 shares of the specialty retailer’s stock after selling 35,262 shares during the period. Envestnet Asset Management Inc.’s holdings in Genuine Parts were worth $62,118,000 at the end of the most recent quarter.

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

Genuine Parts Price Performance

NYSE:GPC opened at $114.03 on Thursday. Genuine Parts has a one year low of $104.01 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a market cap of $15.83 billion, a PE ratio of 17.62 and a beta of 0.82. The stock has a 50 day moving average price of $120.38 and a 200 day moving average price of $122.57.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the business posted $2.26 earnings per share. Equities research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.61%. Genuine Parts’s payout ratio is 63.68%.

Analyst Ratings Changes

Several analysts have issued reports on GPC shares. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial raised their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI upgraded shares of Genuine Parts from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $128.00 to $135.00 in a research report on Friday, April 4th. Loop Capital initiated coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $135.88.

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.