Genuine Parts Company (NYSE:GPC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in Genuine Parts Company (NYSE:GPC) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,180 shares of the specialty retailer’s stock after selling 485 shares during the period. Mutual of America Capital Management LLC’s holdings in Genuine Parts were worth $1,928,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GPC. Envestnet Portfolio Solutions Inc. raised its stake in Genuine Parts by 1.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer’s stock valued at $877,000 after acquiring an additional 128 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Genuine Parts by 2.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 58,596 shares of the specialty retailer’s stock valued at $6,842,000 after purchasing an additional 1,354 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of Genuine Parts during the 4th quarter valued at $52,000. Millstone Evans Group LLC acquired a new position in shares of Genuine Parts during the 4th quarter valued at $25,000. Finally, Virtu Financial LLC increased its position in shares of Genuine Parts by 414.2% during the 4th quarter. Virtu Financial LLC now owns 8,053 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 6,487 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.6%

Shares of Genuine Parts stock opened at $122.82 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.15 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 business has a fifty day simple moving average of $124.24 and a 200 day simple moving average of $120.63. The stock has a market cap of $17.05 billion, a PE ratio of 20.17 and a beta of 0.74.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion during 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%. Research analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.35%. Genuine Parts’s payout ratio is presently 67.65%.

Wall Street Analyst Weigh In

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

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.