Costello Asset Management INC Reduces Position in Genuine Parts (NYSE:GPC)

Costello Asset Management INC decreased its holdings in Genuine Parts (NYSE:GPC) by 70.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 600 shares of the specialty retailer’s stock after selling 1,415 shares during the quarter. Costello Asset Management INC’s holdings in Genuine Parts were worth $70,000 as of its most recent filing with the SEC.

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

Genuine Parts Price Performance

Shares of GPC opened at $116.13 on Friday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a fifty day moving average price of $119.71 and a 200 day moving average price of $129.27. The company has a market cap of $16.15 billion, a P/E ratio of 14.95 and a beta of 0.95.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders 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 annualized dividend and a dividend yield of 3.44%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GPC shares. Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group reduced their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $141.50.

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.