Occudo Quantitative Strategies LP Sells 3,795 Shares of Genuine Parts (NYSE:GPC)

Occudo Quantitative Strategies LP reduced its stake in Genuine Parts (NYSE:GPC) by 51.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,535 shares of the specialty retailer’s stock after selling 3,795 shares during the period. Occudo Quantitative Strategies LP’s holdings in Genuine Parts were worth $413,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caprock Group LLC bought a new stake in Genuine Parts in the fourth quarter valued at $540,000. Dimensional Fund Advisors LP increased its stake in Genuine Parts by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock valued at $198,338,000 after purchasing an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Genuine Parts by 436.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock valued at $3,672,000 after purchasing an additional 25,583 shares in the last quarter. Verity & Verity LLC increased its position in shares of Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after acquiring an additional 9,199 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts during the fourth quarter worth about $21,840,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Up 2.5%

Shares of GPC stock opened at $127.39 on Friday. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $155.22. 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 company has a 50-day simple moving average of $117.71 and a two-hundred day simple moving average of $119.62. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.76.

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 analysts’ consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. Research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s payout ratio is 67.65%.

Wall Street Analyst Weigh In

GPC has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Argus raised shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. The Goldman Sachs Group reissued a “sell” rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and a consensus price target of $130.86.

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.