Sequoia Financial Advisors LLC Reduces Stock Position in Genuine Parts (NYSE:GPC)

Sequoia Financial Advisors LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 72.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,293 shares of the specialty retailer's stock after selling 8,500 shares during the period. Sequoia Financial Advisors LLC's holdings in Genuine Parts were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GPC. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $28,000. Compass Planning Associates Inc purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $29,000. Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $32,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $34,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 1.5 %

Shares of NYSE GPC traded down $1.82 on Friday, reaching $118.93. 3,064,471 shares of the company's stock traded hands, compared to its average volume of 1,147,925. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The business's 50 day simple moving average is $120.99 and its two-hundred day simple moving average is $124.83. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 18.38 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

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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 analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter 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 fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. Genuine Parts's dividend payout ratio is presently 63.68%.

Analyst Ratings Changes

GPC has been the subject of a number of research reports. Truist Financial increased their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Evercore ISI decreased their price target on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target for the company. Finally, Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $137.63.

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.