Genuine Parts (NYSE:GPC) Shares Sold by Clean Yield Group

Clean Yield Group trimmed its position in shares of Genuine Parts (NYSE:GPC) by 17.1% in the first quarter, HoldingsChannel.com reports. The fund owned 1,755 shares of the specialty retailer’s stock after selling 362 shares during the period. Clean Yield Group’s holdings in Genuine Parts were worth $209,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Butensky & Cohen Financial Security Inc. boosted its stake in shares of Genuine Parts by 3.1% in the first quarter. Butensky & Cohen Financial Security Inc. now owns 36,394 shares of the specialty retailer’s stock valued at $4,336,000 after purchasing an additional 1,099 shares during the period. Ullmann Wealth Partners Group LLC boosted its position in Genuine Parts by 5.2% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 3,056 shares of the specialty retailer’s stock valued at $364,000 after buying an additional 150 shares during the period. Oak Asset Management LLC grew its stake in shares of Genuine Parts by 13.8% in the first quarter. Oak Asset Management LLC now owns 13,377 shares of the specialty retailer’s stock worth $1,594,000 after acquiring an additional 1,625 shares in the last quarter. Cypress Wealth Services LLC increased its position in shares of Genuine Parts by 12.3% during the first quarter. Cypress Wealth Services LLC now owns 2,814 shares of the specialty retailer’s stock worth $335,000 after acquiring an additional 308 shares during the period. Finally, Veracity Capital LLC raised its stake in shares of Genuine Parts by 4.9% in the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer’s stock valued at $256,000 after acquiring an additional 100 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.6%

GPC stock opened at $125.36 on Friday. The stock has a market cap of $17.40 billion, a P/E ratio of 19.38 and a beta of 0.76. 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 twelve month low of $104.01 and a twelve month high of $149.22. The company’s 50 day moving average is $119.68 and its two-hundred day moving average is $120.36.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping 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 firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared 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 is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. Genuine Parts’s dividend payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GPC. Truist Financial upped their price target 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 reaffirmed a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Evercore ISI decreased their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Finally, Argus raised shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.