NewEdge Advisors LLC Sells 4,782 Shares of Genuine Parts (NYSE:GPC)

NewEdge Advisors LLC lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 16.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 23,755 shares of the specialty retailer’s stock after selling 4,782 shares during the quarter. NewEdge Advisors LLC’s holdings in Genuine Parts were worth $3,286,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GPC. California State Teachers Retirement System lifted its position in Genuine Parts by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 226,848 shares of the specialty retailer’s stock valued at $31,418,000 after purchasing an additional 4,185 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Genuine Parts by 153.9% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 7,319 shares of the specialty retailer’s stock worth $1,014,000 after acquiring an additional 4,436 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth about $282,000. NEOS Investment Management LLC lifted its holdings in shares of Genuine Parts by 33.6% in the 4th quarter. NEOS Investment Management LLC now owns 1,990 shares of the specialty retailer’s stock worth $276,000 after acquiring an additional 500 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Genuine Parts by 13.3% in the 4th quarter. CIBC Asset Management Inc now owns 23,000 shares of the specialty retailer’s stock worth $3,186,000 after acquiring an additional 2,693 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $138.76 on Thursday. The stock has a market cap of $19.33 billion, a price-to-earnings ratio of 15.47 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The firm has a 50-day moving average of $139.73 and a two-hundred day moving average of $144.59.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the prior year, the firm posted $2.44 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.88%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GPC shares. Evercore ISI lowered their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Wedbush lowered their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Finally, UBS Group lowered their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $161.14.

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.