AGF Management Ltd. Sells 1,744 Shares of Genuine Parts (NYSE:GPC)

AGF Management Ltd. lowered its position in Genuine Parts (NYSE:GPC) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,966 shares of the specialty retailer’s stock after selling 1,744 shares during the period. AGF Management Ltd.’s holdings in Genuine Parts were worth $2,331,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts in the third quarter valued at about $26,000. Kestra Investment Management LLC bought a new stake in Genuine Parts during the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts during the fourth quarter worth approximately $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the fourth quarter worth approximately $29,000. Finally, Synergy Asset Management LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at approximately $32,000. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of analyst reports. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note 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 for the company in a report on Wednesday, February 19th. Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Price Performance

NYSE:GPC opened at $122.16 on Friday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. 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 stock has a market capitalization of $16.95 billion, a PE ratio of 18.88 and a beta of 0.93. The stock’s 50-day moving average price is $120.41 and its 200-day moving average price is $125.54.

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

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. Genuine Parts’s dividend payout ratio is currently 63.68%.

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.