Vontobel Holding Ltd. Sells 580 Shares of Genuine Parts (NYSE:GPC)

Vontobel Holding Ltd. cut its holdings in Genuine Parts (NYSE:GPC) by 14.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,406 shares of the specialty retailer’s stock after selling 580 shares during the quarter. Vontobel Holding Ltd.’s holdings in Genuine Parts were worth $472,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Axxcess Wealth Management LLC lifted its position in Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after acquiring an additional 74 shares in the last quarter. Financial Counselors Inc. lifted its position in Genuine Parts by 0.3% in the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after acquiring an additional 76 shares in the last quarter. Balentine LLC lifted its position in Genuine Parts by 2.2% in the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after acquiring an additional 76 shares in the last quarter. Grimes & Company Inc. raised its stake in Genuine Parts by 2.5% during the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after buying an additional 79 shares during the last quarter. Finally, Fiera Capital Corp raised its stake in Genuine Parts by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock valued at $445,000 after buying an additional 80 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Up 0.4 %

GPC stock opened at $163.09 on Tuesday. The stock has a market capitalization of $22.72 billion, a P/E ratio of 18.18 and a beta of 0.94. The firm has a 50-day simple moving average of $150.66 and a 200-day simple moving average of $142.49. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the company earned $2.14 EPS. Genuine Parts’s revenue was up .3% compared to the same quarter last year. Equities analysts forecast that Genuine Parts will post 9.86 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analysts Set New Price Targets

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

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.