Livforsakringsbolaget Skandia Omsesidigt Has $1.11 Million Stock Position in Genuine Parts (NYSE:GPC)

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 25.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,224 shares of the specialty retailer's stock after selling 3,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Genuine Parts were worth $1,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts in the 4th quarter valued at about $25,000. Kestra Investment Management LLC bought a new position in Genuine Parts during the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new stake in Genuine Parts in the fourth quarter worth $29,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Genuine Parts during the fourth quarter worth $33,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Down 1.4%

GPC stock traded down $1.80 during midday trading on Wednesday, hitting $124.74. The company's stock had a trading volume of 235,001 shares, compared to its average volume of 1,286,202. The company's fifty day moving average price is $119.94 and its 200 day moving average price is $120.38. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a market capitalization of $17.31 billion, a P/E ratio of 19.27 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results 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. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. As a group, equities research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.30%. Genuine Parts's dividend payout ratio is presently 67.65%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Evercore ISI dropped their price objective 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. Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. 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 note on Tuesday, April 1st. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, Truist Financial raised their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Genuine Parts presently has an average rating of "Moderate Buy" and an average price target 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.