Genuine Parts (NYSE:GPC) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC cut its stake in shares of Genuine Parts (NYSE:GPC) by 14.6% in the third quarter, Holdings Channel.com reports. The fund owned 2,591 shares of the specialty retailer’s stock after selling 442 shares during the period. Curi RMB Capital LLC’s holdings in Genuine Parts were worth $362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC increased its holdings in Genuine Parts by 45.9% in the 1st quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer’s stock valued at $383,000 after purchasing an additional 778 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of Genuine Parts by 5.7% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer’s stock valued at $548,000 after buying an additional 191 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Genuine Parts by 707.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,691 shares of the specialty retailer’s stock valued at $2,276,000 after buying an additional 12,871 shares during the period. Acadian Asset Management LLC lifted its stake in Genuine Parts by 137.9% during the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock worth $3,560,000 after acquiring an additional 13,330 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in Genuine Parts by 1.8% during the 1st quarter. Jacobi Capital Management LLC now owns 8,864 shares of the specialty retailer’s stock valued at $1,373,000 after acquiring an additional 157 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research reports. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group reduced their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group cut their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

Genuine Parts stock opened at $122.62 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $130.79 and a 200-day simple moving average of $138.44. The stock has a market cap of $17.05 billion, a P/E ratio of 15.78 and a beta of 0.92. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

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

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.26%. Genuine Parts’s dividend payout ratio is currently 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.