Yousif Capital Management LLC Has $9.59 Million Holdings in Genuine Parts (NYSE:GPC)

Yousif Capital Management LLC cut its stake in Genuine Parts (NYSE:GPC) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,246 shares of the specialty retailer’s stock after selling 4,626 shares during the quarter. Yousif Capital Management LLC’s holdings in Genuine Parts were worth $9,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. increased its stake in Genuine Parts by 71.1% in the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after acquiring an additional 1,076,361 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Genuine Parts by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after purchasing an additional 367,665 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Genuine Parts by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after purchasing an additional 313,438 shares during the last quarter. Stifel Financial Corp increased its stake in Genuine Parts by 2.0% in the 3rd quarter. Stifel Financial Corp now owns 1,597,765 shares of the specialty retailer’s stock worth $230,687,000 after buying an additional 31,155 shares during the period. Finally, Northern Trust Corp lifted its holdings in Genuine Parts by 4.3% during the 3rd quarter. Northern Trust Corp now owns 1,491,923 shares of the specialty retailer’s stock valued at $215,404,000 after buying an additional 61,764 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC traded down $1.58 on Wednesday, hitting $161.80. 1,155,611 shares of the company’s stock traded hands, compared to its average volume of 1,059,760. The firm has a market capitalization of $22.54 billion, a PE ratio of 18.02 and a beta of 0.94. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The firm’s 50-day moving average price is $151.08 and its two-hundred day moving average price is $142.62. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $2.14 EPS. As a group, analysts expect that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $1.00 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s payout ratio is 44.59%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GPC shares. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group upped their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Wedbush reissued a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Truist Financial increased their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Evercore ISI lowered their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $173.10.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

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.