Genuine Parts (NYSE:GPC) Shares Sold by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC reduced its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 44.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,885 shares of the specialty retailer's stock after selling 3,130 shares during the period. Berkeley Capital Partners LLC's holdings in Genuine Parts were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the fourth quarter valued at $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts in the 4th quarter valued at about $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $29,000. Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $32,000. Finally, OFI Invest Asset Management acquired a new position in shares of Genuine Parts in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

GPC has been the subject of several recent analyst reports. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price for the company. Truist Financial raised their price target 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, Evercore ISI dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $137.63.

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Genuine Parts Trading Up 1.7 %

GPC stock traded up $2.02 during midday trading on Monday, reaching $120.80. 830,926 shares of the company's stock traded hands, compared to its average volume of 1,148,894. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The business has a 50-day moving average price of $121.07 and a two-hundred day moving average price of $124.47. The company has a market capitalization of $16.77 billion, a P/E ratio of 18.67 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $5.71 billion. During the same period in the prior year, the company earned $2.26 EPS. Equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is presently 63.68%.

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.