Kornitzer Capital Management Inc. KS Decreases Stock Position in Genuine Parts (NYSE:GPC)

Kornitzer Capital Management Inc. KS lessened its position in Genuine Parts (NYSE:GPC - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,592 shares of the specialty retailer's stock after selling 18,392 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.06% of Genuine Parts worth $9,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Metis Global Partners LLC increased its stake in shares of 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 in the last quarter. Guardian Wealth Advisors LLC increased its stake in shares of Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock valued at $484,000 after purchasing an additional 91 shares in the last quarter. Marco Investment Management LLC increased its stake in shares of Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer's stock valued at $1,104,000 after purchasing an additional 91 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Genuine Parts by 5.9% during the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer's stock valued at $239,000 after purchasing an additional 95 shares in the last quarter. Finally, Hartford Financial Management Inc. increased its stake in shares of 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. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Performance

NYSE:GPC traded down $1.59 during trading hours on Friday, reaching $121.68. The company had a trading volume of 1,466,225 shares, compared to its average volume of 1,617,412. The firm's 50 day moving average price is $118.28 and its 200-day moving average price is $127.27. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 18.81 and a beta of 0.94. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analysts' expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the company posted $2.26 EPS. On average, analysts forecast that Genuine Parts will post 7.91 EPS for the current year.

Genuine Parts Increases Dividend

The firm 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 3.39%. 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 (DPR) is currently 61.82%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GPC. Evercore ISI reduced their price target on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research report on Wednesday. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target for the company. Truist Financial raised their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research report on Wednesday. Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Finally, Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Genuine Parts has a consensus rating of "Hold" and a consensus price target 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.