Trust Co. of Vermont Sells 455 Shares of Genuine Parts Company (NYSE:GPC)

Trust Co. of Vermont reduced its stake in Genuine Parts Company (NYSE:GPC) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,037 shares of the specialty retailer’s stock after selling 455 shares during the period. Trust Co. of Vermont’s holdings in Genuine Parts were worth $838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GPC. Norges Bank acquired a new stake in Genuine Parts during the 4th quarter worth $206,645,000. Junto Capital Management LP acquired a new stake in Genuine Parts during the 4th quarter worth $94,868,000. Alyeska Investment Group L.P. raised its stake in Genuine Parts by 204.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock worth $92,129,000 after buying an additional 530,057 shares during the period. Invesco Ltd. raised its stake in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock worth $380,898,000 after buying an additional 518,851 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Genuine Parts during the 4th quarter worth $57,407,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

GPC opened at $120.47 on Friday. The business’s 50-day moving average price is $121.89 and its two-hundred day moving average price is $119.86. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. The company has a market capitalization of $16.72 billion, a price-to-earnings ratio of 19.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. Equities analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Argus raised Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Truist Financial raised their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. The Goldman Sachs Group reaffirmed 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. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.