Mercer Global Advisors Inc. ADV Cuts Position in Genuine Parts (NYSE:GPC)

Mercer Global Advisors Inc. ADV reduced its stake in shares of Genuine Parts (NYSE:GPC) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,702 shares of the specialty retailer’s stock after selling 1,577 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Genuine Parts were worth $2,300,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GPC. Hartford Financial Management Inc. grew its position in shares of Genuine Parts by 0.5% in the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after buying an additional 99 shares during the last quarter. New York Life Investment Management LLC grew its holdings in Genuine Parts by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after purchasing an additional 108 shares during the last quarter. Grimes & Company Inc. increased its position in shares of Genuine Parts by 3.3% during the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock worth $408,000 after purchasing an additional 111 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in shares of Genuine Parts by 2.5% during the 4th quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock valued at $541,000 after purchasing an additional 115 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Genuine Parts by 1.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer’s stock worth $877,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.9 %

GPC opened at $115.97 on Thursday. The company has a market cap of $16.10 billion, a PE ratio of 17.92 and a beta of 0.76. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $158.65. The company has a 50-day moving average price of $118.19 and a 200 day moving average price of $119.54. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

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

Genuine Parts Dividend Announcement

The firm 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 dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.55%. Genuine Parts’s dividend payout ratio is presently 67.65%.

Analysts Set New Price Targets

GPC has been the topic of a number of research analyst reports. Evercore ISI dropped their price target on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial upped their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Argus raised shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company 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.