Burney Co. Lowers Stake in Genuine Parts (NYSE:GPC)

Burney Co. lowered its position in shares of Genuine Parts (NYSE:GPCFree Report) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,085 shares of the specialty retailer’s stock after selling 75 shares during the quarter. Burney Co.’s holdings in Genuine Parts were worth $445,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Texas Permanent School Fund Corp boosted its holdings in shares of Genuine Parts by 0.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 29,475 shares of the specialty retailer’s stock valued at $4,988,000 after purchasing an additional 87 shares during the last quarter. Amalgamated Bank increased its position in Genuine Parts by 10.7% during the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock worth $6,026,000 after purchasing an additional 4,047 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Genuine Parts by 6.9% in the second quarter. Daiwa Securities Group Inc. now owns 11,635 shares of the specialty retailer’s stock valued at $1,969,000 after buying an additional 752 shares during the period. Mackenzie Financial Corp lifted its position in Genuine Parts by 14.3% during the second quarter. Mackenzie Financial Corp now owns 29,679 shares of the specialty retailer’s stock valued at $4,986,000 after buying an additional 3,712 shares in the last quarter. Finally, State Street Corp increased its position in shares of Genuine Parts by 2.2% in the second quarter. State Street Corp now owns 7,344,846 shares of the specialty retailer’s stock worth $1,249,779,000 after acquiring an additional 155,203 shares in the last quarter. 77.51% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Up 0.6 %

NYSE:GPC opened at $143.18 on Friday. The firm has a market capitalization of $20.07 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $181.37. The company has a current ratio of 1.16, a quick ratio of 0.58 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $139.14 and a 200-day moving average of $143.02.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, November 30th. Genuine Parts’s dividend payout ratio is currently 42.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GPC shares. The Goldman Sachs Group decreased their target price on Genuine Parts from $178.00 to $152.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Wedbush decreased their target price on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Finally, Truist Financial cut their price objective on shares of Genuine Parts from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, October 20th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.11.

Check Out Our Latest Stock Report on GPC

About Genuine Parts

(Free Report)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.

See Also

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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