Keystone Financial Planning Inc. Decreases Holdings in Genuine Parts (NYSE:GPC)

Keystone Financial Planning Inc. lowered its stake in shares of Genuine Parts (NYSE:GPC) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,377 shares of the specialty retailer’s stock after selling 104 shares during the quarter. Genuine Parts makes up approximately 0.8% of Keystone Financial Planning Inc.’s portfolio, making the stock its 25th largest holding. Keystone Financial Planning Inc.’s holdings in Genuine Parts were worth $2,613,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts in the 3rd quarter valued at about $31,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Genuine Parts during the third quarter worth about $44,000. Finally, Armstrong Advisory Group Inc. raised its position in shares of Genuine Parts by 63.8% in the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 141 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.8 %

Genuine Parts stock traded up $0.95 during trading hours on Monday, reaching $116.86. The stock had a trading volume of 796,583 shares, compared to its average volume of 1,019,294. The stock has a market cap of $16.25 billion, a PE ratio of 15.04 and a beta of 0.95. The company has a fifty day simple moving average of $120.94 and a 200-day simple moving average of $131.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.49 EPS. Analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is currently 51.48%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GPC. Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Wedbush dropped their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average target price of $139.57.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

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.