Bessemer Group Inc. Sells 31,686 Shares of Genuine Parts (NYSE:GPC)

Bessemer Group Inc. decreased its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 645,796 shares of the specialty retailer's stock after selling 31,686 shares during the quarter. Bessemer Group Inc. owned 0.46% of Genuine Parts worth $75,404,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GPC. Quantinno Capital Management LP lifted its position in Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock worth $1,580,000 after buying an additional 4,809 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock valued at $458,947,000 after purchasing an additional 32,858 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Genuine Parts by 3.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,946 shares of the specialty retailer's stock worth $2,086,000 after purchasing an additional 493 shares during the period. Neo Ivy Capital Management purchased a new position in Genuine Parts in the 3rd quarter worth $1,182,000. Finally, TD Private Client Wealth LLC lifted its stake in Genuine Parts by 29.6% in the third quarter. TD Private Client Wealth LLC now owns 2,310 shares of the specialty retailer's stock worth $323,000 after purchasing an additional 528 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

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Genuine Parts Stock Performance

Shares of NYSE:GPC traded down $0.32 during trading on Tuesday, hitting $115.91. The company's stock had a trading volume of 322,003 shares, compared to its average volume of 1,252,749. The company has a 50-day moving average of $120.23 and a 200-day moving average of $121.91. 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 firm has a market cap of $16.09 billion, a price-to-earnings ratio of 17.92 and a beta of 0.82. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results 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. 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 for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business earned $2.26 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were given a dividend of $1.03 per share. The ex-dividend date was Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.55%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio (DPR) is currently 63.68%.

Analyst Upgrades and Downgrades

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

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.