US Bancorp DE Decreases Stock Position in Genuine Parts (NYSE:GPC)

US Bancorp DE reduced its position in Genuine Parts (NYSE:GPC) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,917 shares of the specialty retailer’s stock after selling 396 shares during the quarter. US Bancorp DE’s holdings in Genuine Parts were worth $5,715,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Wulff Hansen & CO. raised its holdings in shares of Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares during the period. Dimensional Fund Advisors LP increased its stake in Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after purchasing an additional 239,858 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of Genuine Parts by 29.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after purchasing an additional 223,712 shares during the last quarter. Hamlin Capital Management LLC boosted its stake in shares of Genuine Parts by 12.3% during the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock valued at $82,561,000 after purchasing an additional 64,520 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after purchasing an additional 580,262 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GPC shares. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Wedbush dropped their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Price Performance

Shares of GPC opened at $113.61 on Monday. The company has a 50 day moving average of $134.72 and a two-hundred day moving average of $141.08. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a market cap of $15.80 billion, a price-to-earnings ratio of 14.62 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 earnings per share. As a group, analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.