Yousif Capital Management LLC Sells 2,433 Shares of Genuine Parts (NYSE:GPC)

Yousif Capital Management LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,891 shares of the specialty retailer’s stock after selling 2,433 shares during the quarter. Yousif Capital Management LLC’s holdings in Genuine Parts were worth $7,693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GPC. Metis Global Partners LLC lifted its position in Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC lifted its holdings in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after acquiring an additional 91 shares during the last quarter. Marco Investment Management LLC grew its position in Genuine Parts by 1.2% in the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after acquiring an additional 91 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in Genuine Parts by 5.9% in the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock valued at $239,000 after acquiring an additional 95 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its position in Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $118.43 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $119.06 and a 200-day moving average price of $128.68. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 15.24 and a beta of 0.94. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GPC. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Wedbush cut their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $141.50.

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.