Bessemer Group Inc. Decreases Stock Position in Genuine Parts Company (NYSE:GPC)

Bessemer Group Inc. reduced its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 637,272 shares of the specialty retailer's stock after selling 8,524 shares during the period. Bessemer Group Inc. owned about 0.46% of Genuine Parts worth $75,925,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP increased its position in Genuine Parts by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after acquiring an additional 182,965 shares during the period. Canada Pension Plan Investment Board increased its stake in Genuine Parts by 436.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock worth $3,672,000 after purchasing an additional 25,583 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $21,840,000. Parvin Asset Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter worth $1,320,000. Finally, FORA Capital LLC boosted its position in Genuine Parts by 410.9% during the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock worth $3,075,000 after acquiring an additional 21,178 shares during the period. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Genuine Parts stock traded up $0.03 during mid-day trading on Thursday, reaching $119.18. The company had a trading volume of 922,299 shares, compared to its average volume of 1,298,722. 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 company has a market cap of $16.54 billion, a P/E ratio of 19.57 and a beta of 0.76. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The business has a fifty day simple moving average of $121.66 and a 200 day simple moving average of $119.94.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. On average, equities research analysts predict 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. Investors of record on Friday, June 6th will be paid 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 payout ratio is currently 67.65%.

Analyst Upgrades and Downgrades

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