Fmr LLC Sells 58,746 Shares of Genuine Parts (NYSE:GPC)

Fmr LLC reduced its holdings in Genuine Parts (NYSE:GPC) by 20.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 234,207 shares of the specialty retailer’s stock after selling 58,746 shares during the quarter. Fmr LLC’s holdings in Genuine Parts were worth $32,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPC. CWM LLC increased its position in shares of Genuine Parts by 15.5% during the second quarter. CWM LLC now owns 6,659 shares of the specialty retailer’s stock worth $921,000 after acquiring an additional 896 shares in the last quarter. SG Americas Securities LLC raised its position in Genuine Parts by 79.0% in the 2nd quarter. SG Americas Securities LLC now owns 39,922 shares of the specialty retailer’s stock valued at $5,522,000 after buying an additional 17,625 shares during the last quarter. Czech National Bank boosted its holdings in Genuine Parts by 7.6% during the 2nd quarter. Czech National Bank now owns 26,545 shares of the specialty retailer’s stock worth $3,672,000 after acquiring an additional 1,878 shares during the last quarter. RFG Advisory LLC grew its stake in shares of Genuine Parts by 139.7% in the 2nd quarter. RFG Advisory LLC now owns 3,488 shares of the specialty retailer’s stock worth $482,000 after acquiring an additional 2,033 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Genuine Parts by 18.4% during the second quarter. Sequoia Financial Advisors LLC now owns 10,056 shares of the specialty retailer’s stock valued at $1,391,000 after purchasing an additional 1,563 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial lowered their target price 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 increased 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. Finally, Wedbush cut their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Down 1.0 %

GPC stock opened at $123.42 on Monday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market capitalization of $17.16 billion, a PE ratio of 15.88 and a beta of 0.94. The company’s 50 day moving average price is $127.03 and its two-hundred day moving average price is $135.22. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the firm posted $2.49 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts predict that Genuine Parts will post 8.09 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 Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $1.00 per share. 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 3.24%. Genuine Parts’s dividend payout ratio is currently 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.