Baird Financial Group Inc. Has $18.63 Million Stock Position in Genuine Parts (NYSE:GPC)

Baird Financial Group Inc. cut its holdings in Genuine Parts (NYSE:GPC) by 47.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,591 shares of the specialty retailer’s stock after selling 141,549 shares during the period. Baird Financial Group Inc. owned about 0.11% of Genuine Parts worth $18,634,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in Genuine Parts during the 4th quarter worth about $25,000. Kestra Investment Management LLC bought a new stake in Genuine Parts during the fourth quarter worth about $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts in the fourth quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth approximately $32,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of a number of analyst reports. Argus raised shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Truist Financial boosted their price target on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. 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 research note on Wednesday, April 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts Trading Down 1.2 %

Shares of NYSE:GPC opened at $117.27 on Wednesday. The company has a market capitalization of $16.28 billion, a P/E ratio of 18.12 and a beta of 0.76. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The business’s 50 day simple moving average is $118.37 and its 200 day simple moving average is $119.57. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $158.65.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.51%. Genuine Parts’s dividend payout ratio (DPR) is 67.65%.

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.