Genuine Parts (NYSE:GPC) Stake Lowered by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB trimmed its position in shares of Genuine Parts (NYSE:GPC) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the specialty retailer’s stock after selling 500 shares during the period. E. Ohman J or Asset Management AB’s holdings in Genuine Parts were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of Genuine Parts during the 4th quarter worth about $25,000. Kestra Investment Management LLC acquired a new position in Genuine Parts in the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new position in Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

NYSE GPC opened at $125.36 on Friday. The stock has a 50-day simple moving average of $119.68 and a 200 day simple moving average of $120.36. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22. The stock has a market capitalization of $17.40 billion, a PE ratio of 19.38 and a beta of 0.76. 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 (NYSE:GPC) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Research analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GPC shares. Argus raised shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Truist Financial raised their target price on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Finally, Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Moderate Buy” and an average target price of $130.86.

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.