BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Holdings in Genuine Parts (NYSE:GPC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in Genuine Parts (NYSE:GPC) by 80.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 41,263 shares of the specialty retailer’s stock after selling 174,834 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Genuine Parts were worth $5,764,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in GPC. First Citizens Bank & Trust Co. increased its position in Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares during the last quarter. Dover Advisors LLC raised its stake in Genuine Parts by 5.1% in the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after acquiring an additional 85 shares during the period. Metis Global Partners LLC increased its stake in shares of Genuine Parts by 1.9% in the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after purchasing an additional 85 shares in the last quarter. Blackhawk Capital Partners LLC. raised its position in shares of Genuine Parts by 1.3% in the second quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 86 shares during the period. Finally, Guardian Wealth Advisors LLC raised its holdings in Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after acquiring an additional 91 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Wedbush reduced their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Up 1.7 %

Shares of NYSE:GPC opened at $124.80 on Monday. The stock has a market capitalization of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92. The stock’s 50-day moving average price is $129.44 and its 200-day moving average price is $137.14. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.49 EPS. On average, equities analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.21%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

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.