Cerro Pacific Wealth Advisors LLC Has $789,000 Stake in Genuine Parts (NYSE:GPC)

Cerro Pacific Wealth Advisors LLC cut its stake in Genuine Parts (NYSE:GPC) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,755 shares of the specialty retailer’s stock after selling 267 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Genuine Parts were worth $789,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board boosted its stake in shares of Genuine Parts by 45.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 22,207 shares of the specialty retailer’s stock valued at $3,072,000 after purchasing an additional 6,911 shares during the last quarter. Sei Investments Co. increased its holdings in Genuine Parts by 11.7% during the 2nd quarter. Sei Investments Co. now owns 118,676 shares of the specialty retailer’s stock worth $16,413,000 after purchasing an additional 12,437 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Genuine Parts by 6.9% in the second quarter. Ensign Peak Advisors Inc now owns 47,665 shares of the specialty retailer’s stock valued at $6,593,000 after purchasing an additional 3,095 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Genuine Parts by 78.8% in the second quarter. EverSource Wealth Advisors LLC now owns 490 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 216 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Genuine Parts by 66.0% during the second quarter. Public Sector Pension Investment Board now owns 5,268 shares of the specialty retailer’s stock worth $729,000 after purchasing an additional 2,095 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC stock opened at $118.27 on Friday. The company has a market capitalization of $16.44 billion, a P/E ratio of 15.22 and a beta of 0.95. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a fifty day moving average price of $120.32 and a 200-day moving average price of $130.01. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last issued its quarterly 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 net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same period in the previous year, the company posted $2.49 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. Genuine Parts’s payout ratio is presently 51.48%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. The Goldman Sachs Group cut their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $141.50.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by company insiders.

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.