Farther Finance Advisors LLC Sells 608 Shares of Genuine Parts (NYSE:GPC)

Farther Finance Advisors LLC lessened its stake in Genuine Parts (NYSE:GPC) by 18.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,692 shares of the specialty retailer’s stock after selling 608 shares during the quarter. Farther Finance Advisors LLC’s holdings in Genuine Parts were worth $314,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GPC. State Street Corp increased its position in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Geode Capital Management LLC raised its stake in Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock valued at $458,947,000 after acquiring an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock valued at $337,428,000 after acquiring an additional 145,960 shares during the period. Stifel Financial Corp boosted its position in Genuine Parts by 1.2% during the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after purchasing an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.3 %

Shares of NYSE GPC opened at $123.60 on Tuesday. 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 business has a 50-day moving average of $120.53 and a 200-day moving average of $125.16. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 19.10 and a beta of 0.93. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the company earned $2.26 EPS. Sell-side analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.33%. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Evercore ISI dropped their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Truist Financial increased their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $137.63.

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.