Genuine Parts Company (NYSE:GPC) Stake Cut by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. cut its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 21.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,773 shares of the specialty retailer's stock after selling 9,433 shares during the quarter. Jamison Private Wealth Management Inc.'s holdings in Genuine Parts were worth $4,024,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GPC. Norges Bank bought a new position in Genuine Parts during the fourth quarter worth $206,645,000. Junto Capital Management LP bought a new position in Genuine Parts during the fourth quarter worth $94,868,000. Equity Investment Corp acquired a new stake in Genuine Parts in the fourth quarter worth $84,128,000. Alyeska Investment Group L.P. increased its position in Genuine Parts by 204.7% in the fourth 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 during the period. Finally, Invesco Ltd. increased its position in Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

NYSE GPC opened at $119.63 on Friday. The stock's 50-day moving average price is $121.28 and its two-hundred day moving average price is $120.03. 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 $16.60 billion, a PE ratio of 19.64 and a beta of 0.76. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22.

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 the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. On average, analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.44%. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Evercore ISI cut their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Truist Financial lifted their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $130.86.

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.

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