Wedge Capital Management L L P NC Has $10.82 Million Stock Position in Genuine Parts (NYSE:GPC)

Wedge Capital Management L L P NC reduced its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 8.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,823 shares of the specialty retailer's stock after selling 8,761 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.07% of Genuine Parts worth $10,821,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Strategic Wealth Partners Ltd. boosted its stake in shares of Genuine Parts by 4.2% during the 4th 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 period. Veracity Capital LLC boosted its stake in Genuine Parts by 4.9% in the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after purchasing an additional 100 shares during the period. New York Life Investment Management LLC boosted its stake in Genuine Parts by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock valued at $2,188,000 after purchasing an additional 108 shares during the period. Pinnacle Financial Partners Inc boosted its stake in Genuine Parts by 2.5% in the 4th quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock valued at $541,000 after purchasing an additional 115 shares during the period. Finally, Gallagher Fiduciary Advisors LLC boosted its stake in Genuine Parts by 4.7% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock valued at $309,000 after purchasing an additional 118 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

NYSE GPC traded up $1.25 during midday trading on Tuesday, hitting $126.50. The company had a trading volume of 1,063,035 shares, compared to its average volume of 1,290,299. The company has a market capitalization of $17.56 billion, a PE ratio of 19.55 and a beta of 0.76. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $119.78 and a 200-day moving average price of $120.34. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. As a group, analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued 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 dividend yield of 3.26%. Genuine Parts's dividend payout ratio (DPR) is currently 67.65%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GPC shares. Evercore ISI reduced their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus upgraded Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Truist Financial boosted their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts has an average rating of "Moderate Buy" and an average price target of $130.86.

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.