KCM Investment Advisors LLC Has $7.20 Million Holdings in Genuine Parts (NYSE:GPC)

KCM Investment Advisors LLC decreased its position in Genuine Parts (NYSE:GPC) by 10.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 61,668 shares of the specialty retailer’s stock after selling 7,080 shares during the period. KCM Investment Advisors LLC’s holdings in Genuine Parts were worth $7,200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its position in shares of Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares during the period. Caprock Group LLC acquired a new stake in Genuine Parts during the 4th quarter worth about $540,000. Verity & Verity LLC grew its stake in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after acquiring an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at about $21,840,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Genuine Parts by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after purchasing an additional 56,776 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on GPC shares. Truist Financial upped their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI upgraded Genuine Parts from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $128.00 to $135.00 in a research note on Friday. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday. Finally, Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $135.88.

Genuine Parts Stock Down 1.6 %

GPC opened at $116.80 on Friday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The business has a 50 day moving average price of $121.16 and a 200 day moving average price of $123.54. The firm has a market cap of $16.21 billion, a P/E ratio of 18.05 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the business posted $2.26 earnings per share. Research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.53%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is currently 63.68%.

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.