Genuine Parts (GPC) Position Reduced by Wendell David Associates Inc.

Wendell David Associates Inc. lessened its stake in Genuine Parts (NYSE:GPC) by 47.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,885 shares of the specialty retailer’s stock after selling 3,575 shares during the quarter. Wendell David Associates Inc.’s holdings in Genuine Parts were worth $369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV increased its holdings in Genuine Parts by 6.3% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 68,624 shares of the specialty retailer’s stock valued at $6,373,000 after purchasing an additional 4,066 shares during the last quarter. Trust Co. of Vermont increased its holdings in shares of Genuine Parts by 11.5% in the third quarter. Trust Co. of Vermont now owns 6,490 shares of the specialty retailer’s stock worth $620,000 after acquiring an additional 671 shares in the last quarter. Schafer Cullen Capital Management Inc. increased its holdings in shares of Genuine Parts by 7.2% in the second quarter. Schafer Cullen Capital Management Inc. now owns 1,020,794 shares of the specialty retailer’s stock worth $94,689,000 after acquiring an additional 68,631 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Genuine Parts by 60.1% in the second quarter. Lord Abbett & CO. LLC now owns 113,800 shares of the specialty retailer’s stock worth $10,556,000 after acquiring an additional 42,700 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Genuine Parts by 22.7% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 9,795 shares of the specialty retailer’s stock worth $937,000 after acquiring an additional 1,810 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

Genuine Parts (NYSE:GPC) opened at $102.80 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.62 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $15,142.24, a PE ratio of 23.00, a PEG ratio of 2.52 and a beta of 1.12. Genuine Parts has a 52-week low of $79.86 and a 52-week high of $104.88.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $4.10 billion. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The firm’s quarterly revenue was down 72.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 earnings per share. research analysts anticipate that Genuine Parts will post 4.6 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 8th were given a dividend of $0.675 per share. The ex-dividend date was Thursday, December 7th. This represents a $2.70 annualized dividend and a dividend yield of 2.63%. Genuine Parts’s dividend payout ratio is currently 60.40%.

Several brokerages have issued reports on GPC. Moffett Nathanson began coverage on Genuine Parts in a report on Monday, December 4th. They issued a “sell” rating for the company. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Gabelli restated a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Jefferies Group restated a “hold” rating and issued a $95.00 price target on shares of Genuine Parts in a report on Thursday, October 12th. Finally, Royal Bank of Canada increased their price target on Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 26th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Genuine Parts currently has a consensus rating of “Hold” and an average target price of $95.00.

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About Genuine Parts

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

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

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