Genuine Parts (NYSE:GPC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 532,016 shares of the specialty retailer's stock after selling 35,262 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.38% of Genuine Parts worth $62,118,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GPC. Geode Capital Management LLC grew its stake in Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after acquiring an additional 65,783 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $337,428,000 after purchasing an additional 145,960 shares during the period. JPMorgan Chase & Co. grew its stake in Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Norges Bank purchased a new position in Genuine Parts during the 4th quarter worth $206,645,000. Finally, Equity Investment Corp bought a new stake in Genuine Parts during the 4th quarter valued at $84,128,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 0.1 %

Shares of Genuine Parts stock traded down $0.17 on Tuesday, reaching $116.06. The stock had a trading volume of 243,967 shares, compared to its average volume of 1,252,455. 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 P/E ratio of 17.92 and a beta of 0.82. The company has a 50 day moving average price of $120.23 and a 200 day moving average price of $121.91. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $164.45.

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Genuine Parts (NYSE:GPC - Get Free Report) last announced 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. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the firm earned $2.26 earnings per share. As a group, equities research analysts forecast that Genuine Parts will post 7.9 EPS 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. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.55%. The ex-dividend date was Friday, March 7th. Genuine Parts's dividend payout ratio is currently 63.68%.

Analyst Upgrades and Downgrades

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