MMCAP International Inc. SPC Sells 17,660 Shares of Genuine Parts (NYSE:GPC)

MMCAP International Inc. SPC trimmed its stake in Genuine Parts (NYSE:GPC) by 50.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,340 shares of the specialty retailer’s stock after selling 17,660 shares during the period. MMCAP International Inc. SPC’s holdings in Genuine Parts were worth $2,025,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Pinnacle West Asset Management Inc. grew its position in Genuine Parts by 2.6% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 7,035 shares of the specialty retailer’s stock valued at $821,000 after acquiring an additional 175 shares during the period. Illinois Municipal Retirement Fund grew its position in Genuine Parts by 5.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 63,738 shares of the specialty retailer’s stock valued at $7,442,000 after acquiring an additional 3,554 shares during the period. Vaughan David Investments LLC IL grew its position in Genuine Parts by 2.7% in the fourth quarter. Vaughan David Investments LLC IL now owns 288,988 shares of the specialty retailer’s stock valued at $33,742,000 after acquiring an additional 7,488 shares during the period. Rowlandmiller & PARTNERS.ADV grew its position in Genuine Parts by 0.3% in the fourth quarter. Rowlandmiller & PARTNERS.ADV now owns 55,716 shares of the specialty retailer’s stock valued at $6,505,000 after acquiring an additional 162 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of Genuine Parts by 157.6% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 19,397 shares of the specialty retailer’s stock worth $2,265,000 after purchasing an additional 11,867 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $123.22 on Wednesday. The business’s 50-day simple moving average is $118.46 and its 200 day simple moving average is $126.78. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of 19.04 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter last year, the business earned $2.26 earnings per share. As a group, research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.34%. Genuine Parts’s dividend payout ratio is presently 63.68%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GPC shares. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Finally, Truist Financial increased their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.63.

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.