Avantax Planning Partners Inc. Sells 1,986 Shares of Genuine Parts Company (NYSE:GPC)

Avantax Planning Partners Inc. lessened its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 12.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,204 shares of the specialty retailer's stock after selling 1,986 shares during the period. Avantax Planning Partners Inc.'s holdings in Genuine Parts were worth $1,692,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GPC. Fisher Asset Management LLC increased its stake in Genuine Parts by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,915 shares of the specialty retailer's stock worth $224,000 after acquiring an additional 153 shares during the period. Jones Financial Companies Lllp increased its stake in Genuine Parts by 95.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,578 shares of the specialty retailer's stock worth $418,000 after acquiring an additional 1,746 shares during the period. SBI Securities Co. Ltd. bought a new position in Genuine Parts during the 4th quarter worth $107,000. Steward Partners Investment Advisory LLC increased its stake in Genuine Parts by 18.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,118 shares of the specialty retailer's stock worth $1,532,000 after acquiring an additional 2,063 shares during the period. Finally, Keybank National Association OH increased its stake in Genuine Parts by 8.1% during the 4th quarter. Keybank National Association OH now owns 20,764 shares of the specialty retailer's stock worth $2,424,000 after acquiring an additional 1,554 shares during the period. Institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

GPC has been the topic of a number of recent research reports. Argus upgraded Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Truist Financial raised their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Evercore ISI reduced 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. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Price Performance

Shares of NYSE GPC traded down $0.06 during mid-day trading on Friday, hitting $127.41. 495,193 shares of the stock traded hands, compared to its average volume of 1,302,277. 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 Company has a twelve month low of $104.01 and a twelve month high of $149.22. The company has a market cap of $17.68 billion, a PE ratio of 20.92 and a beta of 0.74. The firm has a 50 day simple moving average of $122.94 and a two-hundred day simple moving average of $120.07.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. As a group, equities research analysts forecast 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. Investors of record on Friday, June 6th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

About Genuine Parts

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.