KCM Investment Advisors LLC Sells 94 Shares of Genuine Parts (NYSE:GPC)

KCM Investment Advisors LLC reduced its holdings in shares of Genuine Parts (NYSE:GPC) by 0.1% in the third quarter, Holdings Channel.com reports. The fund owned 68,748 shares of the specialty retailer’s stock after selling 94 shares during the quarter. KCM Investment Advisors LLC’s holdings in Genuine Parts were worth $9,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPC. Empowered Funds LLC lifted its stake in shares of Genuine Parts by 45.9% during the 1st quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer’s stock worth $383,000 after acquiring an additional 778 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Genuine Parts by 55.9% during the 1st quarter. Sei Investments Co. now owns 106,239 shares of the specialty retailer’s stock worth $16,456,000 after acquiring an additional 38,102 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Genuine Parts by 11.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 172,755 shares of the specialty retailer’s stock valued at $28,904,000 after purchasing an additional 17,346 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Genuine Parts by 8.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 206,794 shares of the specialty retailer’s stock valued at $32,039,000 after purchasing an additional 16,953 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its position in Genuine Parts by 5.7% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer’s stock valued at $548,000 after purchasing an additional 191 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Down 0.8 %

Shares of GPC traded down $0.99 during trading hours on Friday, hitting $122.86. The company had a trading volume of 145,430 shares, compared to its average volume of 1,053,543. The company has a market capitalization of $17.08 billion, a PE ratio of 15.94 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company’s fifty day moving average price is $131.02 and its two-hundred day moving average price is $138.84.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.49 earnings per share. As a group, equities analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.26%. Genuine Parts’s payout ratio is presently 51.48%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday. Evercore ISI lifted 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. Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group reduced their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $139.57.

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.