Genuine Parts Company $GPC Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its stake in shares of Genuine Parts Company (NYSE:GPC) by 70.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,845 shares of the specialty retailer’s stock after selling 6,916 shares during the quarter. SG Americas Securities LLC’s holdings in Genuine Parts were worth $394,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Genuine Parts by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,717 shares of the specialty retailer’s stock valued at $2,111,000 after buying an additional 671 shares in the last quarter. Woodline Partners LP boosted its position in Genuine Parts by 40.7% during the first quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer’s stock worth $1,399,000 after purchasing an additional 3,396 shares in the last quarter. Fifth Third Bancorp grew its holdings in Genuine Parts by 9.3% in the second quarter. Fifth Third Bancorp now owns 17,076 shares of the specialty retailer’s stock valued at $2,071,000 after purchasing an additional 1,448 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Genuine Parts by 6.1% during the 2nd quarter. Ballentine Partners LLC now owns 3,281 shares of the specialty retailer’s stock worth $398,000 after buying an additional 188 shares during the last quarter. Finally, American National Bank & Trust boosted its position in shares of Genuine Parts by 19,900.0% in the 2nd quarter. American National Bank & Trust now owns 400 shares of the specialty retailer’s stock worth $49,000 after buying an additional 398 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their target price for the company from $130.00 to $142.00 in a report on Thursday, November 13th. Truist Financial raised their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. upped their target price on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Evercore ISI increased their target price on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Genuine Parts Stock Performance

Shares of GPC stock opened at $137.63 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The firm has a market capitalization of $19.15 billion, a price-to-earnings ratio of 23.69 and a beta of 0.75. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48. The company has a 50 day moving average price of $128.73 and a 200 day moving average price of $131.87.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts’s dividend payout ratio is currently 70.91%.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.