Avantax Advisory Services Inc. Cuts Position in Genuine Parts (NYSE:GPC)

Avantax Advisory Services Inc. decreased its holdings in Genuine Parts (NYSE:GPC) by 10.0% in the 4th quarter, HoldingsChannel reports. The fund owned 27,990 shares of the specialty retailer’s stock after selling 3,115 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Genuine Parts were worth $3,268,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its position in Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after acquiring an additional 4,809 shares in the last quarter. Caprock Group LLC purchased a new position in Genuine Parts in the fourth quarter worth $540,000. Miramar Capital LLC raised its position in Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after acquiring an additional 7,845 shares in the last quarter. Verity & Verity LLC raised its position in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after acquiring an additional 9,199 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Genuine Parts in the fourth quarter valued at $21,840,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 2.3 %

GPC opened at $122.16 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $16.95 billion, a P/E ratio of 18.88 and a beta of 0.93. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The business’s fifty day simple moving average is $120.41 and its 200 day simple moving average is $125.42.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company earned $2.26 EPS. As a group, equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Analyst Ratings Changes

GPC has been the topic of several research reports. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI lowered their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Truist Financial upped their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average target price of $137.63.

About Genuine Parts

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.