Cetera Advisors LLC reduced its stake in Genuine Parts (NYSE:GPC) by 34.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,916 shares of the specialty retailer’s stock after selling 3,685 shares during the period. Cetera Advisors LLC’s holdings in Genuine Parts were worth $659,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. IFM Investors Pty Ltd purchased a new position in shares of Genuine Parts during the third quarter worth approximately $407,000. Independent Advisor Alliance grew its position in shares of Genuine Parts by 3.9% during the third quarter. Independent Advisor Alliance now owns 21,485 shares of the specialty retailer’s stock worth $2,045,000 after acquiring an additional 801 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Genuine Parts during the third quarter worth approximately $851,000. Dean Investment Associates LLC grew its position in shares of Genuine Parts by 45.4% during the third quarter. Dean Investment Associates LLC now owns 25,358 shares of the specialty retailer’s stock worth $2,425,000 after acquiring an additional 7,920 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Genuine Parts by 6.3% during the third quarter. Ameritas Investment Partners Inc. now owns 10,611 shares of the specialty retailer’s stock worth $969,000 after acquiring an additional 631 shares during the last quarter. Institutional investors own 76.03% of the company’s stock.

Genuine Parts (GPC) traded down $1.78 during trading hours on Friday, reaching $91.48. 763,500 shares of the company were exchanged, compared to its average volume of 852,961. Genuine Parts has a 1 year low of $79.86 and a 1 year high of $100.90. The company has a current ratio of 1.32, a quick ratio of 0.62 and a debt-to-equity ratio of 0.16. The stock has a market cap of $13,673.18, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 3.56 and a beta of 1.12.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Genuine Parts had a net margin of 4.16% and a return on equity of 20.49%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business earned $1.24 earnings per share. The business’s quarterly revenue was down 72.2% on a year-over-year basis. equities research analysts anticipate that Genuine Parts will post 4.58 earnings per share for the current year.

Genuine Parts declared that its board has authorized a share repurchase plan on Monday, August 21st that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 8th will be given a $0.675 dividend. The ex-dividend date is Thursday, December 7th. This represents a $2.70 dividend on an annualized basis and a yield of 2.95%. Genuine Parts’s dividend payout ratio (DPR) is 60.40%.

A number of brokerages have recently issued reports on GPC. Jefferies Group restated a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank of Canada lifted their price objective on shares of Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 26th. Moffett Nathanson started coverage on shares of Genuine Parts in a research report on Monday, December 4th. They issued a “sell” rating on the stock. Finally, Gabelli reiterated a “buy” rating on shares of Genuine Parts in a research report on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $95.00.

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Genuine Parts Profile

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

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

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