KCM Investment Advisors LLC Sells 94 Shares of Genuine Parts (NYSE:GPC)

KCM Investment Advisors LLC lowered its stake in Genuine Parts (NYSE:GPC) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,748 shares of the specialty retailer’s stock after selling 94 shares during the quarter. KCM Investment Advisors LLC’s holdings in Genuine Parts were worth $9,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GPC. Empowered Funds LLC raised its stake in shares of Genuine Parts by 45.9% in the first quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer’s stock worth $383,000 after buying an additional 778 shares during the period. Sei Investments Co. grew its position in shares of Genuine Parts by 55.9% during the first quarter. Sei Investments Co. now owns 106,239 shares of the specialty retailer’s stock worth $16,456,000 after purchasing an additional 38,102 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Genuine Parts by 11.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 172,755 shares of the specialty retailer’s stock worth $28,904,000 after purchasing an additional 17,346 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Genuine Parts by 8.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 206,794 shares of the specialty retailer’s stock worth $32,039,000 after purchasing an additional 16,953 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in shares of Genuine Parts by 5.7% during the first quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer’s stock worth $548,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of several research analyst reports. Truist Financial cut their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday. Wedbush cut their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group cut their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Down 0.8 %

Shares of Genuine Parts stock traded down $0.99 on Friday, reaching $122.86. The company had a trading volume of 145,430 shares, compared to its average volume of 1,053,543. The firm has a market cap of $17.08 billion, a price-to-earnings ratio of 15.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The firm’s 50-day moving average price is $131.02 and its two-hundred day moving average price is $138.84. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its 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 company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.49 EPS. As a group, research analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Genuine Parts Company 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.