Stratos Wealth Partners LTD. Sells 263 Shares of Genuine Parts Company (NYSE:GPC)

Stratos Wealth Partners LTD. lessened its stake in shares of Genuine Parts Company (NYSE:GPC) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,383 shares of the specialty retailer’s stock after selling 263 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Genuine Parts were worth $284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Genuine Parts by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock worth $198,338,000 after purchasing an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Genuine Parts by 436.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock worth $3,672,000 after purchasing an additional 25,583 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Genuine Parts in the 4th quarter worth $1,320,000. FORA Capital LLC raised its stake in Genuine Parts by 410.9% in the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer’s stock worth $3,075,000 after acquiring an additional 21,178 shares during the last quarter. Finally, Bastion Asset Management Inc. purchased a new position in Genuine Parts in the 4th quarter worth $3,391,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 1.8%

GPC stock opened at $122.23 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 20.07 and a beta of 0.74. The business’s 50-day moving average is $123.88 and its 200 day moving average is $120.49.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. On average, sell-side analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, June 6th. Genuine Parts’s payout ratio is 67.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GPC shares. Argus upgraded Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Truist Financial lifted their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Evercore ISI reduced their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.86.

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.