Genuine Parts (NYSE:GPC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Genuine Parts (NYSE:GPC) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,379 shares of the specialty retailer’s stock after selling 1,507 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Genuine Parts were worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. Quantinno Capital Management LP boosted its stake in Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares in the last quarter. Caprock Group LLC bought a new position in Genuine Parts during the fourth quarter valued at about $540,000. Miramar Capital LLC grew its holdings in Genuine Parts by 9.8% during the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after acquiring an additional 7,845 shares during the period. Verity & Verity LLC raised its position in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after acquiring an additional 9,199 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Genuine Parts in the 4th quarter valued at about $21,840,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

Shares of GPC opened at $122.16 on Friday. The business’s 50-day moving average is $120.41 and its 200-day moving average is $125.42. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The company has a market capitalization of $16.95 billion, a price-to-earnings ratio of 18.88 and a beta of 0.93. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. The firm 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 quarter in the prior year, the business earned $2.26 EPS. Equities research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 63.68%.

Wall Street Analysts Forecast Growth

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

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.