CreativeOne Wealth LLC Sells 2,406 Shares of Genuine Parts (NYSE:GPC)

CreativeOne Wealth LLC decreased its stake in Genuine Parts (NYSE:GPC - Free Report) by 54.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,034 shares of the specialty retailer's stock after selling 2,406 shares during the quarter. CreativeOne Wealth LLC's holdings in Genuine Parts were worth $237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Caprock Group LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth $540,000. Verity & Verity LLC boosted its holdings in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock worth $12,198,000 after purchasing an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Genuine Parts during the fourth quarter worth $21,840,000. JPMorgan Chase & Co. raised its holdings 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 buying an additional 114,180 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Genuine Parts during the 4th quarter valued at about $57,407,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GPC. StockNews.com upgraded shares of Genuine Parts from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Truist Financial upped their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday. Evercore ISI cut their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Price Performance

Shares of GPC traded up $0.98 during trading hours on Thursday, hitting $117.12. The stock had a trading volume of 929,579 shares, compared to its average volume of 1,246,617. The stock has a market capitalization of $16.25 billion, a price-to-earnings ratio of 18.10 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. The company's fifty day moving average is $119.24 and its two-hundred day moving average is $120.97. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $163.73.

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

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.52%. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts's dividend payout ratio is presently 63.68%.

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.