D.A. Davidson & CO. Trims Stock Holdings in Genuine Parts Company (NYSE:GPC)

D.A. Davidson & CO. reduced its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,299 shares of the specialty retailer's stock after selling 10,408 shares during the period. D.A. Davidson & CO.'s holdings in Genuine Parts were worth $4,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC bought a new position in Genuine Parts in the first quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in Genuine Parts in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new stake in Genuine Parts during the 4th quarter valued at $33,000. Investors Research Corp increased its stake in Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 125 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in Genuine Parts during the fourth quarter worth $34,000. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GPC shares. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. 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 target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Truist Financial increased their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded down $1.92 during trading hours on Monday, hitting $125.49. 895,641 shares of the company's stock traded hands, compared to its average volume of 1,300,650. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22. The stock has a market capitalization of $17.42 billion, a price-to-earnings ratio of 20.61 and a beta of 0.74. The company has a fifty day simple moving average of $122.94 and a 200-day simple moving average of $120.11. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. Equities research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.28%. The ex-dividend date was Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

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.