Leisure Capital Management Trims Holdings in Genuine Parts (NYSE:GPC)

Leisure Capital Management lowered its stake in shares of Genuine Parts (NYSE:GPC) by 14.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,520 shares of the specialty retailer’s stock after selling 1,285 shares during the period. Leisure Capital Management’s holdings in Genuine Parts were worth $878,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quantinno Capital Management LP grew its stake 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 buying an additional 4,809 shares in the last quarter. Miramar Capital LLC increased its stake in Genuine Parts by 9.8% during the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares during the period. Verity & Verity LLC lifted its position in shares of Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares in the last quarter. Conning Inc. boosted its stake in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after purchasing an additional 19,795 shares during the period. Finally, WD Rutherford LLC grew its holdings in shares of Genuine Parts by 4,265.9% in the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock valued at $1,037,000 after purchasing an additional 7,252 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GPC. JPMorgan Chase & Co. reduced their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $141.50.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the company’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 completion of the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 1.7 %

GPC stock opened at $116.13 on Monday. The company’s 50 day moving average is $119.71 and its two-hundred day moving average is $129.07. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. 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 stock has a market cap of $16.15 billion, a P/E ratio of 14.95 and a beta of 0.94.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.44%. Genuine Parts’s dividend payout ratio is presently 51.48%.

About Genuine Parts

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.