Xponance Inc. Sells 109 Shares of Genuine Parts (NYSE:GPC)

Xponance Inc. trimmed its position in Genuine Parts (NYSE:GPC) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,190 shares of the specialty retailer’s stock after selling 109 shares during the period. Xponance Inc.’s holdings in Genuine Parts were worth $2,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Marco Investment Management LLC raised its position in shares of Genuine Parts by 1.2% in the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 91 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in shares of Genuine Parts by 0.5% in the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after buying an additional 99 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Genuine Parts by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after buying an additional 103 shares during the period. New York Life Investment Management LLC grew its holdings in shares of 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 valued at $2,188,000 after buying an additional 108 shares during the last quarter. Finally, Grimes & Company Inc. increased its position in shares of Genuine Parts by 3.3% in the 4th quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock valued at $408,000 after acquiring an additional 111 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

NYSE:GPC opened at $118.93 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a market capitalization of $16.50 billion, a PE ratio of 18.38 and a beta of 0.93. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a fifty day moving average of $120.99 and a two-hundred day moving average of $124.83.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. As a group, research analysts forecast 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. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.46%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GPC shares. Evercore ISI dropped their price target on 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. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Truist Financial raised their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $137.63.

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.