Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,109 Shares of Genuine Parts (NYSE:GPC)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Genuine Parts (NYSE:GPC) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,285 shares of the specialty retailer’s stock after acquiring an additional 1,109 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Genuine Parts were worth $3,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GPC. Manchester Capital Management LLC raised its stake in shares of Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after buying an additional 70 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after buying an additional 71 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after buying an additional 75 shares during the period. Finally, Checchi Capital Advisers LLC raised its position in shares of Genuine Parts by 2.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after acquiring an additional 76 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Trading Up 0.7 %

NYSE GPC opened at $143.25 on Friday. Genuine Parts has a one year low of $126.35 and a one 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 0.54. The firm has a market cap of $19.95 billion, a P/E ratio of 15.97 and a beta of 0.92. The stock’s 50-day moving average is $139.05 and its 200-day moving average is $146.22.

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 the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the company earned $2.44 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GPC. Truist Financial reissued a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a report on Wednesday. The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. UBS Group cut their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock 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 Thursday. Finally, Evercore ISI cut their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $161.14.

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.