Vontobel Holding Ltd. Reduces Holdings in Genuine Parts (NYSE:GPC)

Vontobel Holding Ltd. trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,782 shares of the specialty retailer’s stock after selling 145 shares during the period. Vontobel Holding Ltd.’s holdings in Genuine Parts were worth $558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the 3rd quarter valued at $31,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Genuine Parts in the 4th quarter worth $32,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at about $44,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction 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 transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Loop Capital began 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. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. UBS Group reduced their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Evercore ISI dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $122.03 on Thursday. The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of 15.71 and a beta of 0.94. The business has a 50-day moving average of $118.25 and a 200-day moving average of $127.30. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the business posted $2.26 earnings per share. As a group, sell-side analysts predict that Genuine Parts will post 8.08 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is presently 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.