KCM Investment Advisors LLC lowered its holdings in Genuine Parts (NYSE:GPC) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,137 shares of the specialty retailer’s stock after selling 947 shares during the period. 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.
A number of other institutional investors have also added to or reduced their stakes in GPC. Stifel Financial Corp grew its position in Genuine Parts by 73.1% in the fourth quarter. Stifel Financial Corp now owns 919,129 shares of the specialty retailer’s stock valued at $97,652,000 after purchasing an additional 388,100 shares in the last quarter. State Street Corp grew its position in shares of Genuine Parts by 4.0% in the 3rd quarter. State Street Corp now owns 9,111,435 shares of the specialty retailer’s stock valued at $914,276,000 after acquiring an additional 354,014 shares during the period. Anchor Capital Advisors LLC grew its position in shares of Genuine Parts by 99.2% in the 4th quarter. Anchor Capital Advisors LLC now owns 439,097 shares of the specialty retailer’s stock valued at $46,645,000 after acquiring an additional 218,641 shares during the period. Bessemer Group Inc. grew its position in shares of Genuine Parts by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 390,193 shares of the specialty retailer’s stock valued at $41,450,000 after acquiring an additional 196,988 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Genuine Parts by 3.0% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,978,815 shares of the specialty retailer’s stock valued at $528,900,000 after acquiring an additional 144,000 shares during the period. 78.74% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE GPC traded up $1.38 during mid-day trading on Thursday, reaching $66.16. 606,141 shares of the company were exchanged, compared to its average volume of 1,585,448. The company’s 50-day simple moving average is $84.93 and its 200-day simple moving average 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. The stock has a market capitalization of $8.84 billion, a P/E ratio of 15.60, a P/E/G ratio of 7.02 and a beta of 0.89. Genuine Parts has a twelve month low of $49.68 and a twelve month high of $115.20.
Genuine Parts (NYSE:GPC) last posted its earnings results on Wednesday, February 19th. The specialty retailer reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The company had revenue of $4.71 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Genuine Parts had a net margin of 3.20% and a return on equity of 22.79%. Genuine Parts’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 EPS. As a group, equities research analysts expect that Genuine Parts will post 5.78 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be given a $0.79 dividend. The ex-dividend date is Thursday, March 5th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 4.78%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.76. Genuine Parts’s payout ratio is 55.54%.
In related news, Director Thomas Gallagher bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were bought at an average price of $55.23 per share, for a total transaction of $276,150.00. Following the transaction, the director now directly owns 627,213 shares of the company’s stock, valued at $34,640,973.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.
A number of brokerages have recently commented on GPC. TheStreet downgraded shares of Genuine Parts from a “b” rating to a “c+” rating in a research report on Wednesday, February 19th. Stephens raised their target price on shares of Genuine Parts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $103.00.
Genuine Parts Company 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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