Man Group plc Sells 19,638 Shares of Genuine Parts (NYSE:GPC)

Man Group plc lessened its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 66.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,777 shares of the specialty retailer's stock after selling 19,638 shares during the quarter. Man Group plc's holdings in Genuine Parts were worth $1,142,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GPC. Millstone Evans Group LLC bought a new stake in Genuine Parts during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the 4th quarter valued at $28,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts during the 4th quarter worth $28,000. Compass Planning Associates Inc purchased a new position in Genuine Parts in the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC bought a new position in Genuine Parts in the fourth quarter valued at $32,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Up 0.9%

NYSE:GPC traded up $1.15 during mid-day trading on Tuesday, reaching $127.36. 1,146,070 shares of the company's stock traded hands, compared to its average volume of 1,282,984. Genuine Parts has a 12-month low of $104.01 and a 12-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 company has a 50 day moving average price of $118.35 and a 200-day moving average price of $120.09. The firm has a market capitalization of $17.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its 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 firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. On average, sell-side analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

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 paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Truist Financial lifted their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Evercore ISI cut 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. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.