Vest Financial LLC Sells 34,137 Shares of Genuine Parts (NYSE:GPC)

Vest Financial LLC decreased its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 6.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 467,665 shares of the specialty retailer's stock after selling 34,137 shares during the period. Vest Financial LLC owned 0.34% of Genuine Parts worth $55,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPC. Geode Capital Management LLC boosted its stake in Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after purchasing an additional 65,783 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Genuine Parts by 18.9% in the 4th 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. increased its holdings in Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after acquiring an additional 145,960 shares in the last quarter. Stifel Financial Corp increased its holdings in Genuine Parts by 21.6% in the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after acquiring an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Genuine Parts by 5.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after acquiring an additional 104,343 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GPC. Evercore ISI lowered their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial upped their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, The Goldman Sachs Group restated a "sell" rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Price Performance

GPC stock traded down $0.80 during trading on Friday, hitting $125.36. The company had a trading volume of 664,087 shares, compared to its average volume of 1,289,797. The business has a 50 day moving average of $119.55 and a 200 day moving average of $120.33. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 19.38 and a beta of 0.76. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. As a group, research analysts predict that Genuine Parts will post 7.9 earnings per share for the current 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 given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's payout ratio is currently 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.