Wealthcare Advisory Partners LLC Cuts Stock Holdings in Genuine Parts (NYSE:GPC)

Wealthcare Advisory Partners LLC cut its stake in shares of Genuine Parts (NYSE:GPC) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,283 shares of the specialty retailer’s stock after selling 217 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Genuine Parts were worth $1,551,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Genuine Parts by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock valued at $458,947,000 after acquiring an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Genuine Parts by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock valued at $383,511,000 after acquiring an additional 30,354 shares during the last quarter. Stifel Financial Corp boosted its position in Genuine Parts by 1.2% in the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after purchasing an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after purchasing an additional 114,180 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.8 %

GPC stock opened at $118.43 on Friday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The firm has a market capitalization of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock has a 50-day simple moving average of $120.69 and a two-hundred day simple moving average of $130.39.

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

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.38%. Genuine Parts’s payout ratio is currently 51.48%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. Loop Capital started coverage on Genuine Parts in a research note on Thursday. They set a “buy” rating and a $155.00 target price on the stock. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Evercore ISI boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $141.50.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

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.