Colonial Trust Co SC Sells 318 Shares of Genuine Parts (NYSE:GPC)

Colonial Trust Co SC cut its holdings in shares of Genuine Parts (NYSE:GPC) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,673 shares of the specialty retailer’s stock after selling 318 shares during the quarter. Colonial Trust Co SC’s holdings in Genuine Parts were worth $312,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Centiva Capital LP bought a new position in Genuine Parts in the fourth quarter valued at approximately $480,000. Captrust Financial Advisors boosted its holdings in shares of Genuine Parts by 1.3% in the 4th quarter. Captrust Financial Advisors now owns 29,920 shares of the specialty retailer’s stock valued at $3,493,000 after buying an additional 379 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at $963,000. Balyasny Asset Management L.P. acquired a new position in Genuine Parts during the fourth quarter worth $7,677,000. Finally, Bastion Asset Management Inc. bought a new stake in Genuine Parts during the fourth quarter worth $3,391,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GPC shares. Argus raised shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial boosted their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. The Goldman Sachs Group reissued a “sell” rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Evercore ISI decreased their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.86.

Genuine Parts Stock Down 0.9 %

Shares of NYSE GPC opened at $115.97 on Thursday. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $158.65. The stock’s fifty day moving average is $118.19 and its 200 day moving average is $119.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a market capitalization of $16.10 billion, a P/E ratio of 17.92 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.55%. Genuine Parts’s dividend payout ratio (DPR) is currently 67.65%.

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.