CIBC Private Wealth Group LLC Sells 10,529 Shares of Genuine Parts (NYSE:GPC)

CIBC Private Wealth Group LLC lowered its position in Genuine Parts (NYSE:GPC - Free Report) by 34.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,078 shares of the specialty retailer's stock after selling 10,529 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Genuine Parts were worth $2,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Genuine Parts by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock worth $458,947,000 after acquiring an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Genuine Parts by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after acquiring an additional 145,960 shares in the last quarter. Stifel Financial Corp increased its stake in Genuine Parts by 1.2% in the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer's stock valued at $287,405,000 after acquiring an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

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Genuine Parts Trading Down 5.5 %

NYSE:GPC traded down $6.40 during mid-day trading on Monday, reaching $110.41. 2,877,591 shares of the company's stock traded hands, compared to its average volume of 1,233,356. The company has a 50 day moving average price of $120.97 and a 200-day moving average price of $123.14. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 17.06 and a beta of 0.82. 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 has a 12-month low of $108.86 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the prior year, the company earned $2.26 earnings per share. On average, sell-side analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared 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 of this dividend was Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.73%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is currently 63.68%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial increased 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. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Evercore ISI raised shares of Genuine Parts from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $128.00 to $135.00 in a research note on Friday. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.