Genuine Parts (NYSE:GPC) Shares Sold by Auxier Asset Management

Auxier Asset Management trimmed its holdings in Genuine Parts (NYSE:GPC) by 20.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,358 shares of the specialty retailer’s stock after selling 1,950 shares during the period. Auxier Asset Management’s holdings in Genuine Parts were worth $1,018,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GPC. Stifel Financial Corp grew its stake in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after acquiring an additional 1,555,149 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares during the last quarter. Morningstar Investment Services LLC raised its position in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after acquiring an additional 357,091 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Genuine Parts by 0.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock worth $75,517,000 after purchasing an additional 4,436 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI cut their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group cut their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Wedbush lowered their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Down 1.5 %

GPC opened at $137.02 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The stock’s 50 day moving average price is $139.73 and its 200 day moving average price is $145.32. The stock has a market cap of $19.09 billion, a P/E ratio of 15.28 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. As a group, research analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.