Wealth Enhancement Advisory Services LLC Trims Stock Holdings in Genuine Parts Company (NYSE:GPC)

Wealth Enhancement Advisory Services LLC trimmed its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 27.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,829 shares of the specialty retailer's stock after selling 31,845 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.06% of Genuine Parts worth $9,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GPC. Navellier & Associates Inc. increased its holdings in Genuine Parts by 34.2% during the 4th quarter. Navellier & Associates Inc. now owns 4,516 shares of the specialty retailer's stock worth $527,000 after purchasing an additional 1,150 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Genuine Parts by 20.5% during the fourth quarter. Sigma Planning Corp now owns 3,576 shares of the specialty retailer's stock valued at $418,000 after buying an additional 608 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings 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. Y Intercept Hong Kong Ltd raised its position in Genuine Parts by 157.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 19,397 shares of the specialty retailer's stock valued at $2,265,000 after buying an additional 11,867 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its stake in Genuine Parts by 0.3% during the 4th quarter. Rowlandmiller & PARTNERS.ADV now owns 55,716 shares of the specialty retailer's stock valued at $6,505,000 after acquiring an additional 162 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPC has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI decreased their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note 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 note on Tuesday, April 1st. Finally, 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. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Stock Performance

Shares of GPC stock traded down $2.06 during trading hours on Wednesday, hitting $119.14. 681,118 shares of the company were exchanged, compared to its average volume of 1,300,228. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 19.56 and a beta of 0.76. The firm has a fifty day simple moving average of $121.66 and a 200 day simple moving average of $119.94. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last released its 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 23.71% and a net margin of 3.60%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Research analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio (DPR) is presently 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.