Simmons Bank Decreases Position in Genuine Parts (NYSE:GPC)

Simmons Bank decreased its position in Genuine Parts (NYSE:GPC) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,424 shares of the specialty retailer’s stock after selling 237 shares during the period. Simmons Bank’s holdings in Genuine Parts were worth $2,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GPC. Empowered Funds LLC lifted its position in shares of Genuine Parts by 45.9% during the 1st quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer’s stock valued at $383,000 after buying an additional 778 shares during the last quarter. Sei Investments Co. boosted its position in Genuine Parts by 55.9% during the first quarter. Sei Investments Co. now owns 106,239 shares of the specialty retailer’s stock worth $16,456,000 after purchasing an additional 38,102 shares during the period. US Bancorp DE increased its stake in shares of Genuine Parts by 5.4% in the first quarter. US Bancorp DE now owns 39,911 shares of the specialty retailer’s stock worth $6,184,000 after purchasing an additional 2,053 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Genuine Parts by 20.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 20,601 shares of the specialty retailer’s stock valued at $3,192,000 after buying an additional 3,451 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Genuine Parts by 11.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 172,755 shares of the specialty retailer’s stock worth $28,904,000 after buying an additional 17,346 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Up 0.8 %

Shares of NYSE GPC opened at $123.70 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average of $131.29 and a 200-day moving average of $138.94. The firm has a market capitalization of $17.20 billion, a price-to-earnings ratio of 15.92 and a beta of 0.92. 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 results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.49 EPS. Sell-side analysts expect 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 was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.23%. Genuine Parts’s payout ratio is 51.48%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Wedbush lowered their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, UBS Group reduced their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $139.57.

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.