Epoch Investment Partners Inc. Trims Stake in Genuine Parts (NYSE:GPC)

Epoch Investment Partners Inc. reduced its position in Genuine Parts (NYSE:GPC) by 2.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,919 shares of the specialty retailer’s stock after selling 86 shares during the period. Epoch Investment Partners Inc.’s holdings in Genuine Parts were worth $452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. WD Rutherford LLC purchased a new stake in shares of Genuine Parts in the 1st quarter valued at about $26,000. Assetmark Inc. raised its stake in Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. Union Savings Bank raised its stake in Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Thompson Investment Management Inc. purchased a new stake in Genuine Parts during the 1st quarter valued at approximately $35,000. Finally, Stephens Consulting LLC raised its stake in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. UBS Group reduced their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Wednesday. Evercore ISI reduced their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday. Jefferies Financial Group increased their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Finally, Wedbush cut their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

Shares of GPC stock traded up $4.00 during trading hours on Friday, reaching $141.97. 988,185 shares of the company’s stock were exchanged, compared to its average volume of 1,197,496. The company has a market cap of $19.78 billion, a P/E ratio of 15.83 and a beta of 0.92. The company’s 50 day moving average is $140.29 and its two-hundred day moving average is $146.34. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 EPS. Equities research analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

About Genuine Parts

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.