Toronto Dominion Bank Lowers Stock Position in Genuine Parts (NYSE:GPC)

Toronto Dominion Bank lowered its position in Genuine Parts (NYSE:GPC - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Genuine Parts by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after purchasing an additional 65,783 shares during the period. Invesco Ltd. lifted its position in Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after purchasing an additional 518,851 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Genuine Parts by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after purchasing an additional 145,960 shares during the period. Stifel Financial Corp lifted its position in Genuine Parts by 21.6% in the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after purchasing an additional 445,259 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Genuine Parts by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock valued at $249,426,000 after purchasing an additional 104,343 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GPC. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Evercore ISI reduced 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 shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One investment 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. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded up $0.27 during trading on Friday, hitting $126.64. 2,359,443 shares of the company were exchanged, compared to its average volume of 1,290,833. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 19.57 and a beta of 0.76. The firm has a 50 day moving average price of $118.91 and a 200 day moving average price of $120.23.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.83 billion. On average, equities analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.25%. Genuine Parts's payout ratio 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.