Fiduciary Group LLC Trims Holdings in Genuine Parts (NYSE:GPC)

Fiduciary Group LLC decreased its holdings in Genuine Parts (NYSE:GPC) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,343 shares of the specialty retailer’s stock after selling 121 shares during the quarter. Fiduciary Group LLC’s holdings in Genuine Parts were worth $741,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Equity Investment Corp purchased a new position in shares of Genuine Parts in the 4th quarter valued at about $84,128,000. Raymond James Financial Inc. acquired a new position in shares of Genuine Parts during the fourth quarter worth $57,407,000. State Street Corp lifted its position in shares of Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after buying an additional 253,400 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in shares of Genuine Parts by 95.4% in the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after buying an additional 191,272 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 3.2 %

GPC opened at $120.60 on Friday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. 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 stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of 18.64 and a beta of 0.93. The business has a 50 day moving average of $120.93 and a 200-day moving average of $125.00.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the prior year, the business earned $2.26 earnings per share. As a group, sell-side analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.42%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 63.68%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Evercore ISI reduced their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Truist Financial upped their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $137.63.

About Genuine Parts

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.