Jump Financial LLC Cuts Stock Position in Genuine Parts (NYSE:GPC)

Jump Financial LLC cut its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 73.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,402 shares of the specialty retailer's stock after selling 6,557 shares during the period. Jump Financial LLC's holdings in Genuine Parts were worth $280,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Caprock Group LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth approximately $540,000. Verity & Verity LLC boosted its stake in shares of Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after purchasing an additional 9,199 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Genuine Parts in the fourth quarter worth about $21,840,000. JPMorgan Chase & Co. increased its stake in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after buying an additional 114,180 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Genuine Parts during the 4th quarter valued at about $57,407,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of GPC stock traded up $2.01 during trading hours on Friday, hitting $119.01. 213,322 shares of the company's stock were exchanged, compared to its average volume of 1,594,156. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $16.52 billion, a P/E ratio of 18.38 and a beta of 0.82. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $159.77. The firm has a 50 day moving average of $118.61 and a two-hundred day moving average of $120.22.

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 for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Sell-side analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is 67.65%.

Analyst Ratings Changes

Several brokerages recently issued reports on GPC. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Evercore ISI lowered their target price 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. Truist Financial increased their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. 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 company. According to MarketBeat.com, the stock currently has a consensus 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.