Genuine Parts (NYSE:GPC) Shares Sold by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. reduced its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 88.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,790 shares of the specialty retailer's stock after selling 13,156 shares during the period. Coldstream Capital Management Inc.'s holdings in Genuine Parts were worth $209,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GPC. Hartford Financial Management Inc. grew its holdings in Genuine Parts by 0.5% in the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer's stock valued at $2,185,000 after buying an additional 99 shares in the last quarter. New York Life Investment Management LLC increased 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 purchasing an additional 108 shares during the last quarter. Grimes & Company Inc. raised its stake 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 purchasing an additional 111 shares during the period. Pinnacle Financial Partners Inc boosted its holdings 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 last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of Genuine Parts by 1.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer's stock valued at $877,000 after buying an additional 128 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC opened at $120.30 on Friday. The stock has a 50-day simple moving average of $118.55 and a 200-day simple moving average of $120.08. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $159.77. The stock has a market capitalization of $16.70 billion, a PE ratio of 18.59 and a beta of 0.82.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. On average, analysts predict that Genuine Parts 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. Stockholders of record on Friday, June 6th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.42%. Genuine Parts's dividend payout ratio is currently 67.65%.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent analyst reports. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Loop Capital initiated coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Truist Financial upped their price target on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Genuine Parts currently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

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.

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