Occudo Quantitative Strategies LP Sells 3,795 Shares of Genuine Parts (NYSE:GPC)

Occudo Quantitative Strategies LP decreased its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 51.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,535 shares of the specialty retailer's stock after selling 3,795 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Genuine Parts were worth $413,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GPC. OMERS ADMINISTRATION Corp increased its position in Genuine Parts by 19.6% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 5,828 shares of the specialty retailer's stock worth $680,000 after buying an additional 954 shares during the period. Measured Risk Portfolios Inc. bought a new stake in Genuine Parts during the fourth quarter worth about $49,000. Mork Capital Management LLC acquired a new stake in Genuine Parts during the fourth quarter worth about $992,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Genuine Parts by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,046 shares of the specialty retailer's stock worth $1,990,000 after buying an additional 664 shares in the last quarter. Finally, LRI Investments LLC increased its holdings in Genuine Parts by 622.0% in the 4th quarter. LRI Investments LLC now owns 722 shares of the specialty retailer's stock valued at $84,000 after buying an additional 622 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Performance

GPC traded up $0.51 on Monday, hitting $129.18. The company's stock had a trading volume of 1,132,012 shares, compared to its average volume of 1,275,367. The firm has a market cap of $17.93 billion, a P/E ratio of 19.97 and a beta of 0.76. The company's 50 day simple moving average is $117.81 and its 200-day simple moving average is $119.76. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $153.44. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS 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 company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. Analysts forecast that Genuine Parts will post 7.9 EPS for the current 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 paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio is presently 67.65%.

Analysts Set New Price Targets

Several research firms recently commented on GPC. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI dropped their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Truist Financial lifted 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. Finally, The Goldman Sachs Group reissued a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Company 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.