Mn Services Vermogensbeheer B.V. Sells 4,000 Shares of Genuine Parts Company (NYSE:GPC)

Mn Services Vermogensbeheer B.V. decreased its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,006 shares of the specialty retailer's stock after selling 4,000 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Genuine Parts were worth $6,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in 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 valued at $3,672,000 after purchasing an additional 25,583 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Genuine Parts during the fourth quarter valued at $21,840,000. Parvin Asset Management LLC bought a new position in Genuine Parts during the fourth quarter valued at $1,320,000. Finally, FORA Capital LLC lifted its position in Genuine Parts by 410.9% during the fourth quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after purchasing an additional 21,178 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Down 1.0%

GPC stock opened at $119.35 on Wednesday. The company has a market capitalization of $16.56 billion, a PE ratio of 19.60 and a beta of 0.76. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $149.22. The firm's 50-day moving average is $120.99 and its 200 day moving average is $120.15. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52.

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

Genuine Parts Announces Dividend

The firm also recently announced 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 3.45%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

Analysts Set New Price Targets

Several equities analysts have commented on GPC shares. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Evercore ISI reduced their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial increased 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. Finally, Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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