Fiduciary Financial Group LLC Sells 120 Shares of Genuine Parts (NYSE:GPC)

Fiduciary Financial Group LLC reduced its stake in Genuine Parts (NYSE:GPC) by 4.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,394 shares of the specialty retailer’s stock after selling 120 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Genuine Parts were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GPC. DekaBank Deutsche Girozentrale boosted its position in shares of Genuine Parts by 1.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 44,715 shares of the specialty retailer’s stock worth $6,127,000 after buying an additional 554 shares during the period. Thoroughbred Financial Services LLC acquired a new stake in Genuine Parts in the 2nd quarter valued at $331,000. Envestnet Asset Management Inc. lifted its position in Genuine Parts by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock worth $75,326,000 after buying an additional 13,753 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Genuine Parts by 29.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,037 shares of the specialty retailer’s stock worth $835,000 after buying an additional 1,378 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $117.63 on Thursday. The stock has a market capitalization of $16.35 billion, a PE ratio of 15.14 and a beta of 0.95. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business has a fifty day moving average price of $120.95 and a two-hundred day moving average price of $130.71.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.49 EPS. As a group, equities analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.40%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GPC. Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Truist Financial decreased their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Wedbush cut their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $139.57.

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.