Cypress Wealth Services LLC Reduces Stock Position in Genuine Parts (NYSE:GPC)

Cypress Wealth Services LLC decreased its position in shares of Genuine Parts (NYSE:GPC) by 9.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,880 shares of the specialty retailer’s stock after selling 304 shares during the quarter. Cypress Wealth Services LLC’s holdings in Genuine Parts were worth $446,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. 180 Wealth Advisors LLC grew its holdings in shares of Genuine Parts by 3.3% during the first quarter. 180 Wealth Advisors LLC now owns 3,037 shares of the specialty retailer’s stock worth $471,000 after purchasing an additional 98 shares during the last quarter. Lockerman Financial Group Inc. purchased a new position in shares of Genuine Parts during the first quarter worth about $207,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Genuine Parts by 5.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 48,019 shares of the specialty retailer’s stock worth $7,440,000 after purchasing an additional 2,548 shares during the last quarter. Agate Pass Investment Management LLC grew its holdings in shares of Genuine Parts by 6.1% during the first quarter. Agate Pass Investment Management LLC now owns 17,500 shares of the specialty retailer’s stock worth $2,711,000 after purchasing an additional 999 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Genuine Parts by 11.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 13,418 shares of the specialty retailer’s stock worth $2,079,000 after purchasing an additional 1,426 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GPC shares. Evercore ISI raised their price objective on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. Jefferies Financial Group raised their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Wedbush reissued a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Truist Financial raised their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $172.44.

Genuine Parts Stock Performance

GPC traded down $0.67 during trading on Thursday, reaching $137.40. The company’s stock had a trading volume of 871,860 shares, compared to its average volume of 990,238. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $170.57. The company’s fifty day moving average price is $149.03 and its 200-day moving average price is $146.43. The company has a market capitalization of $19.14 billion, a price-to-earnings ratio of 15.32 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the company earned $2.14 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities analysts forecast that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.