Sei Investments Co. Sells 19,699 Shares of Genuine Parts (NYSE:GPC)

Sei Investments Co. lowered its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,699 shares of the specialty retailer's stock after selling 19,699 shares during the period. Sei Investments Co. owned about 0.08% of Genuine Parts worth $12,691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets raised its position in Genuine Parts by 72.6% in the third quarter. BNP Paribas Financial Markets now owns 215,644 shares of the specialty retailer's stock worth $30,121,000 after purchasing an additional 90,731 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Genuine Parts by 0.4% during the 3rd quarter. Townsquare Capital LLC now owns 27,881 shares of the specialty retailer's stock worth $3,894,000 after buying an additional 115 shares during the period. CreativeOne Wealth LLC bought a new stake in Genuine Parts in the third quarter valued at $620,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Genuine Parts by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,886 shares of the specialty retailer's stock valued at $4,314,000 after acquiring an additional 3,601 shares during the period. Finally, Fiduciary Trust Co raised its stake in Genuine Parts by 40.9% during the third quarter. Fiduciary Trust Co now owns 2,406 shares of the specialty retailer's stock worth $336,000 after acquiring an additional 698 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

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Genuine Parts Stock Up 1.4 %

NYSE:GPC traded up $1.62 during trading hours on Wednesday, reaching $120.07. 480,819 shares of the stock were exchanged, compared to its average volume of 1,583,891. The firm has a 50 day moving average of $121.11 and a 200 day moving average of $123.75. 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 stock has a market cap of $16.66 billion, a PE ratio of 18.56 and a beta of 0.93. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

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

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.43%. Genuine Parts's dividend payout ratio is currently 63.68%.

Wall Street Analyst Weigh In

GPC has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday. Evercore ISI increased their price target on shares of Genuine Parts from $125.00 to $128.00 and gave the company an "in-line" rating in a research note on Tuesday. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Truist Financial upped their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of "Hold" and an average price target of $135.00.

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.