Royal Bank of Canada Sells 22,850 Shares of Genuine Parts (NYSE:GPC)

Royal Bank of Canada decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 979,445 shares of the specialty retailer’s stock after selling 22,850 shares during the quarter. Royal Bank of Canada’s holdings in Genuine Parts were worth $114,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GPC. Caprock Group LLC purchased a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $540,000. Dimensional Fund Advisors LP boosted its holdings in shares of 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 during the period. Canada Pension Plan Investment Board boosted its holdings in shares of 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 during the period. Proficio Capital Partners LLC purchased a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $21,840,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $1,320,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.4%

Genuine Parts stock opened at $129.18 on Tuesday. The business has a fifty day moving average of $117.96 and a two-hundred day moving average of $119.87. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $17.93 billion, a P/E ratio of 19.97 and a beta of 0.76. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $153.44.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share 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. On average, 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 disclosed 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 annualized dividend and a dividend yield of 3.19%. Genuine Parts’s dividend payout ratio is presently 67.65%.

Analysts Set New Price Targets

GPC has been the subject of a number of research reports. Truist Financial boosted their price target on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Evercore ISI lowered their price target on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus upgraded Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, 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.