Anchor Capital Advisors LLC Trims Stock Position in Genuine Parts (NYSE:GPC)

Anchor Capital Advisors LLC decreased its stake in Genuine Parts (NYSE:GPC) by 4.3% during the second quarter, Holdings Channel reports. The institutional investor owned 258,325 shares of the specialty retailer’s stock after selling 11,636 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Genuine Parts were worth $35,732,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. boosted its position in Genuine Parts by 27.1% in the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after purchasing an additional 668 shares in the last quarter. BNP Paribas Financial Markets grew its position in Genuine Parts by 22.0% during the fourth quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after buying an additional 26,710 shares during the period. Stifel Financial Corp increased its holdings in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares in the last quarter. Comerica Bank raised its position in shares of Genuine Parts by 19.6% in the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after acquiring an additional 18,657 shares during the period. Finally, Harvest Investment Advisors LLC boosted its stake in shares of Genuine Parts by 1.5% during the 4th quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,228,000 after acquiring an additional 133 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GPC. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday. Wedbush reduced their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. UBS Group dropped their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial restated a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Trading Down 1.5 %

Shares of GPC stock opened at $134.30 on Friday. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The stock’s fifty day moving average is $139.14 and its two-hundred day moving average is $146.12. The firm has a market capitalization of $18.71 billion, a P/E ratio of 14.97 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted 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 return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. Research analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given 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 2.98%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.