Manning & Napier Advisors LLC Has $7.04 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Manning & Napier Advisors LLC cut its stake in Genuine Parts (NYSE:GPC - Free Report) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,253 shares of the specialty retailer's stock after selling 5,954 shares during the quarter. Manning & Napier Advisors LLC's holdings in Genuine Parts were worth $7,035,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts during the third quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts in the 3rd quarter valued at $31,000. Concord Wealth Partners increased its position in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock worth $38,000 after buying an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts during the third quarter worth $44,000. Finally, First Financial Corp IN bought a new stake in shares of Genuine Parts in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Analysts Set New Price Targets

GPC has been the subject of several analyst reports. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective for the company. StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research report on Tuesday, October 22nd. Finally, UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Eight 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $141.50.

Insider Activity

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 transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company's stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is currently owned by insiders.

Genuine Parts Price Performance

Shares of GPC stock traded up $1.90 on Thursday, reaching $118.24. The company had a trading volume of 419,361 shares, compared to its average volume of 1,460,254. The stock has a market capitalization of $16.44 billion, a PE ratio of 15.21 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The business's 50-day moving average is $119.97 and its 200 day moving average is $129.52. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts Dividend Announcement

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

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.