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

Man Group plc cut its stake in Genuine Parts (NYSE:GPC - Free Report) by 66.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GPC. Millstone Evans Group LLC purchased a new position in Genuine Parts during the fourth quarter worth about $25,000. Kestra Investment Management LLC purchased a new position in Genuine Parts during the fourth quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts during the fourth quarter worth about $28,000. Compass Planning Associates Inc purchased a new position in Genuine Parts during the fourth quarter worth about $29,000. Finally, Synergy Asset Management LLC purchased a new position in Genuine Parts during the fourth quarter worth about $32,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on GPC. Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Wall Street Zen cut 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 research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Trading Down 0.2%

Shares of NYSE GPC traded down $0.30 during midday trading on Thursday, reaching $125.65. The company had a trading volume of 104,363 shares, compared to its average volume of 1,530,018. Genuine Parts has a one year low of $104.01 and a one year high of $149.22. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm's fifty day moving average price is $118.62 and its 200-day moving average price is $120.18. The stock has a market cap of $17.44 billion, a PE ratio of 19.41 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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $5.83 billion. On average, equities research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders 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 3.28%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is 67.65%.

Genuine Parts Company 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.