Act Two Investors LLC Sells 130,560 Shares of Genuine Parts (NYSE:GPC)

Act Two Investors LLC trimmed its stake in Genuine Parts (NYSE:GPC - Free Report) by 85.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,094 shares of the specialty retailer's stock after selling 130,560 shares during the quarter. Genuine Parts makes up 0.5% of Act Two Investors LLC's holdings, making the stock its 26th biggest position. Act Two Investors LLC's holdings in Genuine Parts were worth $2,696,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $206,645,000. Equity Investment Corp purchased a new stake in shares of Genuine Parts during the fourth quarter worth $84,128,000. Invesco Ltd. boosted its holdings in shares of Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after acquiring an additional 518,851 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Genuine Parts in the fourth quarter valued at $57,407,000. Finally, Synovus Financial Corp raised its stake in shares of Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock valued at $54,708,000 after purchasing an additional 191,272 shares during the period. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GPC. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Evercore ISI upgraded Genuine Parts from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $128.00 to $135.00 in a research report on Friday, April 4th. Finally, Truist Financial boosted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts has a consensus rating of "Hold" and a consensus target price of $135.88.

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Genuine Parts Price Performance

Shares of NYSE GPC traded down $1.87 during trading hours on Tuesday, reaching $114.37. 1,076,412 shares of the stock traded hands, compared to its average volume of 1,255,696. The company's 50-day simple moving average is $120.23 and its two-hundred day simple moving average is $121.91. The company has a market capitalization of $15.87 billion, a P/E ratio of 17.68 and a beta of 0.82. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the business posted $2.26 EPS. Equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a dividend of $1.03 per share. 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 dividend yield of 3.60%. The ex-dividend date was Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is 63.68%.

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.