Cypress Wealth Services LLC Sells 304 Shares of Genuine Parts (NYSE:GPC)

Cypress Wealth Services LLC cut its position in shares of Genuine Parts (NYSE:GPC) by 9.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,880 shares of the specialty retailer’s stock after selling 304 shares during the period. Cypress Wealth Services LLC’s holdings in Genuine Parts were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. NBC Securities Inc. increased its holdings in shares of Genuine Parts by 27.1% in the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock valued at $433,000 after acquiring an additional 668 shares during the period. ICW Investment Advisors LLC increased its holdings in shares of Genuine Parts by 2.8% in the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after acquiring an additional 221 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Genuine Parts by 22.0% in the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after acquiring an additional 26,710 shares during the period. Stifel Financial Corp increased its holdings in shares of Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares during the period. Finally, Conning Inc. increased its holdings in shares of Genuine Parts by 5.9% in the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after acquiring an additional 12,634 shares during the period. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GPC has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Evercore ISI boosted their target price on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a research note on Thursday, June 20th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Truist Financial boosted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Wedbush restated a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $172.44.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

GPC traded down $0.67 on Thursday, reaching $137.40. 871,860 shares of the stock were exchanged, compared to its average volume of 990,238. The company’s 50-day moving average price is $149.03 and its 200 day moving average price is $146.43. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The firm has a market capitalization of $19.14 billion, a PE ratio of 15.32 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 EPS. As a group, sell-side analysts forecast that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Genuine Parts 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.