Choreo LLC Decreases Stake in Genuine Parts (NYSE:GPC)

Choreo LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,286 shares of the specialty retailer’s stock after selling 1,040 shares during the period. Choreo LLC’s holdings in Genuine Parts were worth $503,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quantinno Capital Management LP grew 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 valued at $1,580,000 after purchasing an additional 4,809 shares in the last quarter. Caprock Group LLC acquired a new position in Genuine Parts during the fourth quarter worth $540,000. Miramar Capital LLC grew its holdings in Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after buying an additional 7,845 shares in the last quarter. Verity & Verity LLC increased its stake in shares of Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after acquiring an additional 9,199 shares during the last quarter. Finally, Conning Inc. raised its holdings in shares of Genuine Parts by 8.2% during the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after acquiring an additional 19,795 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GPC shares. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Truist Financial cut their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $141.50.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 2.8 %

GPC opened at $121.75 on Wednesday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $118.41 and a 200-day simple moving average of $128.07. The firm has a market cap of $16.93 billion, a P/E ratio of 15.67 and a beta of 0.94.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.