Focus Partners Advisor Solutions LLC Reduces Holdings in Genuine Parts (NYSE:GPC)

Focus Partners Advisor Solutions LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 56.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,357 shares of the specialty retailer’s stock after selling 3,098 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Genuine Parts were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GPC. Caprock Group LLC acquired a new stake in Genuine Parts during the fourth quarter worth approximately $540,000. Dimensional Fund Advisors LP boosted its position in Genuine Parts by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock worth $198,338,000 after acquiring an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock worth $3,672,000 after acquiring an additional 25,583 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Genuine Parts during the fourth quarter worth approximately $21,840,000. Finally, Parvin Asset Management LLC acquired a new stake in Genuine Parts during the fourth quarter worth approximately $1,320,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC stock opened at $126.31 on Monday. The company’s fifty day simple moving average is $118.32 and its 200-day simple moving average is $120.06. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $149.22. The company has a market cap of $17.53 billion, a PE ratio of 19.52 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last announced its quarterly 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 net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.83 billion. As a group, equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a dividend of $1.03 per share. 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 3.26%. Genuine Parts’s dividend payout ratio (DPR) is 67.65%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GPC. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Evercore ISI decreased their target price on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial lifted their price target 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.86.

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.