Jamison Private Wealth Management Inc. Decreases Stake in Genuine Parts Company (NYSE:GPC)

Jamison Private Wealth Management Inc. decreased its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 21.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,773 shares of the specialty retailer's stock after selling 9,433 shares during the period. Jamison Private Wealth Management Inc.'s holdings in Genuine Parts were worth $4,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GPC. Geode Capital Management LLC raised its stake in shares of Genuine Parts by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after acquiring an additional 65,783 shares in the last quarter. Invesco Ltd. increased its position in shares of Genuine Parts by 18.9% during the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after purchasing an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after purchasing an additional 145,960 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Genuine Parts by 21.6% in the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after purchasing an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after buying an additional 104,343 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

GPC traded down $0.06 during trading on Tuesday, hitting $121.23. The company's stock had a trading volume of 740,498 shares, compared to its average volume of 1,297,442. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 19.91 and a beta of 0.76. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $149.22. The business's fifty day simple moving average is $121.38 and its 200 day simple moving average is $119.94. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. On average, equities research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given 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 dividend yield of 3.40%. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Truist Financial lifted their price target on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Evercore ISI reduced their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. One investment 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 stock. According to data from MarketBeat.com, the stock has an average 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.