KCM Investment Advisors LLC cut its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,668 shares of the specialty retailer's stock after selling 7,080 shares during the period. KCM Investment Advisors LLC's holdings in Genuine Parts were worth $7,200,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in Genuine Parts during the fourth quarter valued at $25,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts in the fourth quarter worth approximately $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts during the fourth quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $32,000. 78.83% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on GPC. Evercore ISI upgraded shares of Genuine Parts from an "in-line" rating to an "outperform" rating and raised their price target for the company from $128.00 to $135.00 in a report on Friday, April 4th. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. 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. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $135.88.
Get Our Latest Report on GPC
Genuine Parts Stock Performance
Shares of NYSE:GPC traded down $3.30 on Thursday, hitting $110.68. 549,173 shares of the company were exchanged, compared to its average volume of 1,246,472. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company's 50 day moving average price is $120.38 and its two-hundred day moving average price is $122.57. Genuine Parts has a one year low of $104.01 and a one year high of $164.45. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 17.05 and a beta of 0.82.
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 (EPS) for the quarter, beating 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 firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company posted $2.26 earnings per share. Research analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.
Genuine Parts Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is 63.68%.
About Genuine Parts
(
Free Report)
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.
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