Genuine Parts (NYSE:GPC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank lowered its holdings in Genuine Parts (NYSE:GPC - Free Report) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,964 shares of the specialty retailer's stock after selling 2,704 shares during the period. Toronto Dominion Bank's holdings in Genuine Parts were worth $5,483,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Caprock Group LLC purchased a new position in shares of Genuine Parts in the fourth quarter worth approximately $540,000. Dimensional Fund Advisors LP boosted its holdings in shares of Genuine Parts by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock worth $198,338,000 after purchasing an additional 182,965 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock worth $3,672,000 after purchasing an additional 25,583 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Genuine Parts during the fourth quarter worth approximately $21,840,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Genuine Parts during the fourth quarter worth approximately $1,320,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Evercore ISI decreased their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Truist Financial lifted their target price 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 research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Trading Down 2.2%

Shares of NYSE:GPC opened at $125.24 on Thursday. The company has a market cap of $17.38 billion, a P/E ratio of 19.36 and a beta of 0.76. The stock's 50-day moving average is $118.20 and its 200-day moving average is $119.96. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $151.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently announced 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. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is currently 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.

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