Thrivent Financial for Lutherans Has $860,000 Holdings in Genuine Parts (NYSE:GPC)

Thrivent Financial for Lutherans trimmed its position in Genuine Parts (NYSE:GPC - Free Report) by 78.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,371 shares of the specialty retailer's stock after selling 27,600 shares during the quarter. Thrivent Financial for Lutherans' holdings in Genuine Parts were worth $860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after buying an additional 401,180 shares in the last quarter. Geode Capital Management LLC raised its stake in Genuine Parts by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock worth $458,947,000 after acquiring an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 worth $337,428,000 after acquiring an additional 145,960 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer's stock valued at $287,405,000 after purchasing an additional 25,015 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after purchasing an additional 114,180 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

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Genuine Parts Trading Down 1.6 %

Shares of NYSE:GPC traded down $1.88 during trading on Friday, reaching $116.80. The stock had a trading volume of 1,750,365 shares, compared to its average volume of 1,226,778. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The firm's fifty day moving average is $121.16 and its 200 day moving average is $123.34. The stock has a market cap of $16.21 billion, a price-to-earnings ratio of 18.05 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share 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 the consensus estimate 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 business posted $2.26 EPS. As a group, equities analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost 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%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GPC. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Truist Financial upped their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective for the company. Finally, Evercore ISI upgraded shares of Genuine Parts from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $128.00 to $135.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $135.88.

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.