Avanza Fonder AB Trims Stake in Genuine Parts (NYSE:GPC)

Avanza Fonder AB reduced its position in Genuine Parts (NYSE:GPC - Free Report) by 31.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,043 shares of the specialty retailer's stock after selling 4,989 shares during the period. Avanza Fonder AB's holdings in Genuine Parts were worth $1,326,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of Genuine Parts in the 4th quarter valued at $25,000. Kestra Investment Management LLC bought a new position in Genuine Parts in the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the 4th quarter worth approximately $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the 4th quarter worth approximately $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Genuine Parts in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Trading Down 1.1%

Shares of NYSE:GPC traded down $1.32 during trading on Thursday, reaching $121.98. 1,501,422 shares of the company traded hands, compared to its average volume of 1,294,759. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $149.22. The business's fifty day moving average is $120.07 and its 200-day moving average is $120.40. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 18.85 and a beta of 0.76.

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, topping analysts' consensus estimates of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. As a group, analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is currently 67.65%.

Wall Street Analysts Forecast Growth

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

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.