Curi RMB Capital LLC Trims Stake in Genuine Parts (NYSE:GPC)

Curi RMB Capital LLC lessened its stake in Genuine Parts (NYSE:GPC) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also made changes to their positions in GPC. Wulff Hansen & CO. boosted its holdings in Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after acquiring an additional 580,262 shares during the period. Boston Trust Walden Corp purchased a new stake in shares of Genuine Parts during the 3rd quarter worth about $39,474,000. Natixis grew its position in shares of Genuine Parts by 768.4% during the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after acquiring an additional 279,930 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC opened at $122.62 on Friday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The firm has a market capitalization of $17.05 billion, a PE ratio of 15.78 and a beta of 0.92. 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 firm’s 50-day moving average price is $130.79 and its 200 day moving average price is $138.44.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side 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. Stockholders of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.26%. Genuine Parts’s dividend payout ratio is presently 51.48%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Evercore ISI raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $139.57.

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.