FRG Family Wealth Advisors LLC Trims Stock Position in Genuine Parts (NYSE:GPC)

FRG Family Wealth Advisors LLC cut its stake in shares of Genuine Parts (NYSE:GPC) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,485 shares of the specialty retailer’s stock after selling 270 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Genuine Parts were worth $290,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP boosted its stake in Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after acquiring an additional 4,809 shares in the last quarter. Caprock Group LLC acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $540,000. Verity & Verity LLC boosted its stake in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after acquiring an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $21,840,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after buying an additional 114,180 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 8.0 %

NYSE GPC opened at $114.03 on Thursday. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of 17.62 and a beta of 0.82. The stock’s 50 day moving average price is $120.38 and its two-hundred day moving average price is $122.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the firm earned $2.26 EPS. As a group, analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

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

Wall Street Analyst Weigh In

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