Barclays PLC Trims Stock Position in Genuine Parts (NYSE:GPC)

Barclays PLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 21.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,262 shares of the specialty retailer's stock after selling 75,088 shares during the period. Barclays PLC owned 0.20% of Genuine Parts worth $31,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Norges Bank acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $206,645,000. Equity Investment Corp acquired a new stake in shares of Genuine Parts during the fourth quarter worth $84,128,000. Invesco Ltd. grew its position in shares of Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $57,407,000. Finally, Synovus Financial Corp grew its holdings in Genuine Parts by 95.4% during the third 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. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Trading Down 0.0 %

GPC traded down $0.04 during trading on Thursday, reaching $116.10. 268,906 shares of the stock traded hands, compared to its average volume of 1,243,387. The stock's 50-day moving average is $119.24 and its 200 day moving average is $120.97. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $163.73. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $16.11 billion, a PE ratio of 17.92 and a beta of 0.82.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. Equities analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio is 63.68%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GPC shares. Truist Financial lifted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target for the company. StockNews.com upgraded Genuine Parts from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Evercore ISI dropped their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of "Moderate Buy" and an average price target of $130.86.

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.