Genuine Parts (NYSE:GPC) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,441 shares of the specialty retailer's stock after selling 2,545 shares during the period. Tidal Investments LLC's holdings in Genuine Parts were worth $869,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Genuine Parts during the 4th quarter worth about $25,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts in the 4th quarter valued at about $28,000. Compass Planning Associates Inc acquired a new stake in Genuine Parts in the 4th quarter valued at about $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Down 1.1%

Shares of GPC traded down $1.39 during mid-day trading on Wednesday, reaching $125.88. The company's stock had a trading volume of 834,834 shares, compared to its average volume of 1,283,485. The company's 50 day moving average is $118.62 and its 200 day moving average is $120.18. The stock has a market cap of $17.47 billion, a PE ratio of 19.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $149.22.

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

Genuine Parts Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.27%. Genuine Parts's payout ratio is 67.65%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GPC shares. Truist Financial increased their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, 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 report on Wednesday, April 23rd. One equities 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.