Genuine Parts Company (NYSE:GPC) Shares Sold by Prossimo Advisors LLC

Prossimo Advisors LLC lessened its holdings in Genuine Parts Company (NYSE:GPC) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,954 shares of the specialty retailer’s stock after selling 337 shares during the period. Prossimo Advisors LLC’s holdings in Genuine Parts were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Norges Bank acquired a new position in Genuine Parts in the fourth quarter valued at about $206,645,000. Junto Capital Management LP acquired a new stake in shares of Genuine Parts during the fourth quarter valued at about $94,868,000. Alyeska Investment Group L.P. raised its stake in shares of Genuine Parts by 204.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock valued at $92,129,000 after acquiring an additional 530,057 shares during the period. Invesco Ltd. raised its stake in shares of Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock valued at $380,898,000 after acquiring an additional 518,851 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Genuine Parts by 20,194.9% in the 1st quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer’s stock worth $56,749,000 after acquiring an additional 473,975 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC opened at $133.57 on Friday. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. The stock has a market capitalization of $18.58 billion, a PE ratio of 22.99 and a beta of 0.74. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.52 and a current ratio of 1.14. The stock has a 50-day simple moving average of $124.96 and a 200-day simple moving average of $121.12.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.08%. Genuine Parts’s payout ratio is currently 70.91%.

Analysts Set New Price Targets

Several research firms recently weighed in on GPC. Truist Financial lifted their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday. 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 research report on Wednesday, April 23rd. Loop Capital boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, UBS Group raised their target price on Genuine Parts from $125.00 to $135.00 and gave the company a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $135.29.

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.