Genuine Parts (NYSE:GPC) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its holdings in Genuine Parts (NYSE:GPC) by 18.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,592 shares of the specialty retailer’s stock after selling 18,392 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.06% of Genuine Parts worth $9,643,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GPC. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts during the third quarter worth approximately $31,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts in the fourth quarter valued at $32,000. Concord Wealth Partners raised its position 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 purchasing an additional 119 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts in the third quarter valued at $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Wedbush lowered their price objective 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. The Goldman Sachs Group reduced their target price 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, Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Eight 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. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Performance

NYSE GPC opened at $121.72 on Wednesday. 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 business has a 50 day moving average price of $118.27 and a 200 day moving average price of $127.34. The company has a market capitalization of $16.92 billion, a P/E ratio of 15.67 and a beta of 0.94. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. During the same quarter in the prior year, the business earned $2.26 earnings per share. Sell-side analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.38%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently 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.