Avantax Advisory Services Inc. Decreases Stake in Genuine Parts (NYSE:GPC)

Avantax Advisory Services Inc. lessened its stake in Genuine Parts (NYSE:GPC) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. purchased a new stake in Genuine Parts during the fourth quarter worth approximately $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts during the fourth quarter worth approximately $29,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts during the fourth quarter worth approximately $32,000. Finally, OFI Invest Asset Management purchased a new stake in Genuine Parts during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $122.16 on Friday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The business has a 50 day simple moving average of $120.41 and a 200-day simple moving average of $125.42. The stock has a market capitalization of $16.95 billion, a PE ratio of 18.88 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. Equities analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.37%. 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. Genuine Parts’s dividend payout ratio is 63.68%.

Wall Street Analyst Weigh In

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

Genuine Parts Company 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.