Genuine Parts (NYSE:GPC) Shares Sold by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management trimmed its stake in shares of Genuine Parts (NYSE:GPC) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,964 shares of the specialty retailer’s stock after selling 169 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Genuine Parts were worth $463,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Anchor Investment Management LLC grew its holdings in shares of Genuine Parts by 59.4% during the third quarter. Anchor Investment Management LLC now owns 1,503 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 560 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Genuine Parts by 16.4% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 27,075 shares of the specialty retailer’s stock valued at $3,792,000 after acquiring an additional 3,813 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Genuine Parts by 1,229.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 32,476 shares of the specialty retailer’s stock worth $4,536,000 after acquiring an additional 30,034 shares during the last quarter. Optimist Retirement Group LLC increased its holdings in shares of Genuine Parts by 26.8% in the 3rd quarter. Optimist Retirement Group LLC now owns 15,802 shares of the specialty retailer’s stock worth $2,207,000 after acquiring an additional 3,338 shares during the period. Finally, Synovus Financial Corp lifted its position in Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after purchasing an additional 191,272 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

NYSE:GPC opened at $116.62 on Friday. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $162.06. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $16.19 billion, a P/E ratio of 18.02 and a beta of 0.82. The business’s 50-day moving average price is $118.98 and its 200 day moving average price is $120.63.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.83 billion. As a group, sell-side analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is 67.65%.

Analyst Ratings Changes

GPC has been the subject of several recent analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Evercore ISI reduced their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $130.86.

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.