Financial Counselors Inc. Decreases Stake in Genuine Parts (NYSE:GPC)

Financial Counselors Inc. lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,980 shares of the specialty retailer’s stock after selling 551 shares during the period. Financial Counselors Inc.’s holdings in Genuine Parts were worth $2,566,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GPC. Millstone Evans Group LLC purchased a new position in Genuine Parts during the fourth quarter worth about $25,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts in the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc purchased a new position in Genuine Parts in the fourth quarter worth approximately $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts during the fourth quarter worth $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC opened at $120.54 on Friday. The firm has a market capitalization of $16.73 billion, a price-to-earnings ratio of 18.63 and a beta of 0.93. The firm’s fifty day simple moving average is $121.13 and its 200-day simple moving average is $124.28. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. 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 (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the prior year, the firm posted $2.26 earnings per share. Equities analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.42%. Genuine Parts’s payout ratio is 63.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GPC. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Evercore ISI dropped their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Truist Financial lifted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average target price of $137.63.

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.