Pictet Asset Management Holding SA Trims Stake in Genuine Parts (NYSE:GPC)

Pictet Asset Management Holding SA reduced its stake in Genuine Parts (NYSE:GPC - Free Report) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,330 shares of the specialty retailer's stock after selling 5,882 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of Genuine Parts worth $9,613,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of Genuine Parts in the fourth quarter valued at about $25,000. Kestra Investment Management LLC bought a new stake in Genuine Parts in the 4th quarter worth about $28,000. First Command Advisory Services Inc. purchased a new stake in Genuine Parts in the 4th quarter valued at about $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts during the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Genuine Parts in the 4th quarter worth approximately $32,000. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research analyst reports. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 target price (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 boosted their price target for the stock from $128.00 to $135.00 in a report on Friday. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective for the company. Finally, Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Genuine Parts has an average rating of "Hold" and a consensus target price of $135.88.

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Genuine Parts Stock Performance

GPC traded down $6.40 on Monday, hitting $110.41. The company's stock had a trading volume of 2,877,591 shares, compared to its average volume of 1,233,356. Genuine Parts has a 12 month low of $108.86 and a 12 month high of $164.45. The firm has a market cap of $15.32 billion, a P/E ratio of 17.06 and a beta of 0.82. 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 company's 50 day simple moving average is $120.97 and its 200-day simple moving average is $123.14.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period last year, the company earned $2.26 earnings per share. Analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.73%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 7th. Genuine Parts's dividend payout ratio is presently 63.68%.

About Genuine Parts

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.