Waverly Advisors LLC Reduces Stake in Genuine Parts (NYSE:GPC)

Waverly Advisors LLC cut its position in Genuine Parts (NYSE:GPC - Free Report) by 45.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,945 shares of the specialty retailer's stock after selling 18,464 shares during the period. Waverly Advisors LLC's holdings in Genuine Parts were worth $2,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. boosted its stake in shares of Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after acquiring an additional 98 shares during the last quarter. Hartford Financial Management Inc. lifted its position in Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer's stock worth $2,185,000 after buying an additional 99 shares in the last quarter. New York Life Investment Management LLC lifted its position in Genuine Parts by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock worth $2,188,000 after buying an additional 108 shares in the last quarter. Grimes & Company Inc. lifted its position in Genuine Parts by 3.3% during the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer's stock worth $408,000 after buying an additional 111 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its position in Genuine Parts by 2.5% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock worth $541,000 after buying an additional 115 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on GPC shares. Evercore ISI reduced their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Argus upgraded Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Truist Financial lifted their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Stock Down 0.5%

GPC stock traded down $0.58 during mid-day trading on Friday, reaching $126.31. The company had a trading volume of 978,633 shares, compared to its average volume of 1,283,534. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company has a market capitalization of $17.53 billion, a price-to-earnings ratio of 19.52 and a beta of 0.76. The firm has a fifty day simple moving average of $118.32 and a 200 day simple moving average of $120.08. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. Analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business 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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio is currently 67.65%.

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.