Archford Capital Strategies LLC Sells 3,730 Shares of Genuine Parts Company (NYSE:GPC)

Archford Capital Strategies LLC trimmed its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 68.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,754 shares of the specialty retailer's stock after selling 3,730 shares during the quarter. Archford Capital Strategies LLC's holdings in Genuine Parts were worth $209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Genuine Parts in the fourth quarter worth about $206,645,000. Junto Capital Management LP acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $94,868,000. Equity Investment Corp bought a new position in Genuine Parts in the 4th quarter worth approximately $84,128,000. Alyeska Investment Group L.P. lifted its holdings in Genuine Parts by 204.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock worth $92,129,000 after buying an additional 530,057 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after buying an additional 518,851 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Trading Up 0.0%

Shares of GPC stock traded up $0.03 on Thursday, reaching $119.18. The company had a trading volume of 922,299 shares, compared to its average volume of 1,298,722. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $149.22. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The stock has a market cap of $16.54 billion, a PE ratio of 19.57 and a beta of 0.76. The company has a 50-day moving average of $121.66 and a 200-day moving average of $119.94.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. On average, equities analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio is currently 67.65%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Truist Financial boosted their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Evercore ISI dropped their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $130.86.

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.