Cypress Capital Management LLC Sells 13,550 Shares of Genuine Parts (NYSE:GPC)

Cypress Capital Management LLC cut its stake in shares of Genuine Parts (NYSE:GPC) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,441 shares of the specialty retailer’s stock after selling 13,550 shares during the period. Genuine Parts comprises approximately 1.4% of Cypress Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Cypress Capital Management LLC owned 0.06% of Genuine Parts worth $9,876,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Genuine Parts by 13.5% during the 4th quarter. Russell Investments Group Ltd. now owns 105,330 shares of the specialty retailer’s stock valued at $10,547,000 after acquiring an additional 12,517 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Genuine Parts by 13.0% during the 1st quarter. IFM Investors Pty Ltd now owns 15,403 shares of the specialty retailer’s stock valued at $1,780,000 after acquiring an additional 1,773 shares in the last quarter. River Road Asset Management LLC lifted its stake in Genuine Parts by 32.0% during the 1st quarter. River Road Asset Management LLC now owns 260,089 shares of the specialty retailer’s stock valued at $30,064,000 after acquiring an additional 63,057 shares in the last quarter. Knowledge Leaders Capital LLC bought a new position in Genuine Parts during the 4th quarter valued at $824,000. Finally, Hendershot Investments Inc. lifted its stake in Genuine Parts by 0.5% during the 1st quarter. Hendershot Investments Inc. now owns 131,530 shares of the specialty retailer’s stock valued at $15,204,000 after acquiring an additional 618 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

GPC traded up $0.84 during trading hours on Friday, hitting $128.55. The stock had a trading volume of 3,046 shares, compared to its average volume of 836,029. The firm’s fifty day simple moving average is $125.96. Genuine Parts has a 1 year low of $82.06 and a 1 year high of $135.93. The stock has a market capitalization of $18.57 billion, a PE ratio of 375.63, a PEG ratio of 4.64 and a beta of 1.11. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.64 and a current ratio of 1.21.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Wednesday, April 21st. The specialty retailer reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.36. Genuine Parts had a return on equity of 27.80% and a net margin of 0.31%. The company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm posted $0.92 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts predict that Genuine Parts will post 6.05 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be issued a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, June 3rd. Genuine Parts’s payout ratio is presently 61.86%.

A number of equities research analysts have recently commented on GPC shares. Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Tuesday, April 20th. TheStreet upgraded Genuine Parts from a “c+” rating to a “b” rating in a research note on Monday, April 26th. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $115.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. Argus lifted their target price on Genuine Parts from $109.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Finally, Royal Bank of Canada lifted their target price on Genuine Parts from $115.00 to $129.00 and gave the stock a “sector perform” rating in a research note on Friday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $127.50.

In other Genuine Parts news, insider Kevin Herron sold 2,500 shares of Genuine Parts stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $132.31, for a total transaction of $330,775.00. Following the completion of the transaction, the insider now owns 13,754 shares of the company’s stock, valued at approximately $1,819,791.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by insiders.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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