Genuine Parts (NYSE:GPC) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its holdings in Genuine Parts (NYSE:GPC - Free Report) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,895 shares of the specialty retailer's stock after selling 6,565 shares during the quarter. American Century Companies Inc.'s holdings in Genuine Parts were worth $6,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board lifted its holdings in Genuine Parts by 15.2% in the third quarter. Public Sector Pension Investment Board now owns 6,068 shares of the specialty retailer's stock valued at $848,000 after acquiring an additional 800 shares during the period. Benjamin Edwards Inc. purchased a new stake in Genuine Parts during the third quarter worth about $1,237,000. Investment Management Corp of Ontario grew its position in Genuine Parts by 52.2% during the third quarter. Investment Management Corp of Ontario now owns 4,668 shares of the specialty retailer's stock worth $652,000 after buying an additional 1,600 shares during the period. Royal London Asset Management Ltd. increased its holdings in Genuine Parts by 2.7% in the third quarter. Royal London Asset Management Ltd. now owns 57,242 shares of the specialty retailer's stock valued at $7,996,000 after buying an additional 1,518 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of 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 acquiring an additional 4,809 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

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Genuine Parts Trading Up 8.0 %

Shares of GPC stock traded up $8.49 during mid-day trading on Wednesday, hitting $114.03. 2,578,526 shares of the company's stock were exchanged, compared to its average volume of 1,248,944. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 17.62 and a beta of 0.82. The stock has a 50-day simple moving average of $120.38 and a two-hundred day simple moving average of $122.57. Genuine Parts has a fifty-two week low of $103.25 and a fifty-two 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 posted 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. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $5.71 billion. During the same quarter in the previous year, the business earned $2.26 EPS. Equities analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal 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. The ex-dividend date was Friday, March 7th. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.61%. Genuine Parts's payout ratio is currently 63.68%.

Wall Street Analysts Forecast Growth

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

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.