KCM Investment Advisors LLC reduced its stake in Genuine Parts (NYSE:GPC) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,137 shares of the specialty retailer’s stock after selling 947 shares during the quarter. KCM Investment Advisors LLC’s holdings in Genuine Parts were worth $7,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allworth Financial LP boosted its holdings in Genuine Parts by 61.5% in the fourth quarter. Allworth Financial LP now owns 323 shares of the specialty retailer’s stock valued at $34,000 after acquiring an additional 123 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Genuine Parts during the first quarter valued at $44,000. Carmichael Hill & Associates Inc. purchased a new position in shares of Genuine Parts in the 4th quarter worth about $53,000. CFM Wealth Partners LLC purchased a new position in shares of Genuine Parts in the 4th quarter worth about $53,000. Finally, Evoke Wealth LLC purchased a new position in shares of Genuine Parts in the 3rd quarter worth about $63,000. 78.74% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on GPC shares. TheStreet lowered Genuine Parts from a “b” rating to a “c+” rating in a research report on Wednesday, February 19th. Stephens lifted their price target on Genuine Parts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $103.00.
NYSE GPC traded up $1.38 during trading hours on Thursday, reaching $66.16. The company’s stock had a trading volume of 606,141 shares, compared to its average volume of 1,585,448. The firm’s 50-day moving average price is $84.93 and its 200-day moving average price is $97.23. The company has a quick ratio of 0.64, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. Genuine Parts has a 1 year low of $49.68 and a 1 year high of $115.20. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 7.02 and a beta of 0.89.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. Genuine Parts had a return on equity of 22.79% and a net margin of 3.20%. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the previous year, the firm earned $1.35 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Genuine Parts will post 5.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.76. This represents a $3.16 dividend on an annualized basis and a yield of 4.78%. Genuine Parts’s payout ratio is currently 55.54%.
Genuine Parts Profile
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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