Headinvest LLC Cuts Stake in Genuine Parts (NYSE:GPC)

Headinvest LLC cut its stake in Genuine Parts (NYSE:GPCGet Rating) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,124 shares of the specialty retailer’s stock after selling 465 shares during the quarter. Headinvest LLC’s holdings in Genuine Parts were worth $578,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Country Trust Bank increased its position in shares of Genuine Parts by 376.2% during the fourth quarter. Country Trust Bank now owns 200 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 158 shares during the last quarter. JNBA Financial Advisors increased its position in shares of Genuine Parts by 103.8% during the fourth quarter. JNBA Financial Advisors now owns 214 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 109 shares during the last quarter. Missouri Trust & Investment Co purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $32,000. FSB Premier Wealth Management Inc. bought a new stake in Genuine Parts in the fourth quarter valued at about $31,000. Finally, Capital Analysts LLC increased its holdings in Genuine Parts by 82.4% in the fourth quarter. Capital Analysts LLC now owns 239 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 108 shares during the last quarter. 76.92% of the stock is currently owned by institutional investors.

GPC stock traded down $3.46 during midday trading on Friday, reaching $128.54. The company had a trading volume of 998,983 shares, compared to its average volume of 789,027. The company has a quick ratio of 0.58, a current ratio of 1.16 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average price of $130.85 and a 200 day moving average price of $131.62. Genuine Parts has a fifty-two week low of $115.63 and a fifty-two week high of $142.97. The firm has a market capitalization of $18.20 billion, a PE ratio of 19.90, a P/E/G ratio of 3.02 and a beta of 1.00.

Genuine Parts (NYSE:GPCGet Rating) last issued its earnings results on Thursday, April 21st. The specialty retailer reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.16. Genuine Parts had a return on equity of 30.84% and a net margin of 4.71%. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. Genuine Parts’s quarterly revenue was up 17.6% compared to the same quarter last year. Research analysts predict that Genuine Parts will post 7.84 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 3rd will be paid a $0.895 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $3.58 dividend on an annualized basis and a yield of 2.79%. Genuine Parts’s payout ratio is currently 55.42%.

GPC has been the subject of several research analyst reports. StockNews.com initiated coverage on Genuine Parts in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Friday, February 18th. Finally, Bank of America raised Genuine Parts from an “underperform” rating to a “neutral” rating and set a $133.00 price objective for the company in a report on Tuesday, May 10th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.25.

About Genuine Parts (Get Rating)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, 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.

Further Reading

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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