Novare Capital Management LLC Sells 266 Shares of Genuine Parts (NYSE:GPC)

Novare Capital Management LLC lessened its position in Genuine Parts (NYSE:GPC) by 8.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,797 shares of the specialty retailer’s stock after selling 266 shares during the period. Novare Capital Management LLC’s holdings in Genuine Parts were worth $327,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GPC. Quantinno Capital Management LP boosted its stake in Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares during the last quarter. Miramar Capital LLC boosted its position in shares of Genuine Parts by 9.8% during the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after buying an additional 7,845 shares during the last quarter. Verity & Verity LLC increased its holdings in Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after buying an additional 9,199 shares in the last quarter. Conning Inc. raised its position in Genuine Parts by 8.2% in the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after buying an additional 19,795 shares during the last quarter. Finally, WD Rutherford LLC lifted its stake in Genuine Parts by 4,265.9% during the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock valued at $1,037,000 after acquiring an additional 7,252 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.0 %

GPC stock opened at $117.19 on Monday. The business’s 50-day moving average price is $120.21 and its 200-day moving average price is $129.87. The stock has a market cap of $16.29 billion, a P/E ratio of 15.08 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.41%. Genuine Parts’s payout ratio is currently 51.48%.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the 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 in the company, valued at approximately $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 accessible through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research analyst reports. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group lowered their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $141.50.

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.