Citizens Financial Group Inc. RI Raises Holdings in Genuine Parts (NYSE:GPC)

Citizens Financial Group Inc. RI increased its stake in shares of Genuine Parts (NYSE:GPC) by 2.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,788 shares of the specialty retailer’s stock after purchasing an additional 103 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Genuine Parts were worth $533,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GPC. First Citizens Bank & Trust Co. boosted its holdings in shares of Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after purchasing an additional 75 shares during the period. Dover Advisors LLC grew its position in shares of Genuine Parts by 5.1% in the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after buying an additional 85 shares during the last quarter. Metis Global Partners LLC grew its position in shares of Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after buying an additional 85 shares during the last quarter. Blackhawk Capital Partners LLC. increased its stake in shares of Genuine Parts by 1.3% during the second quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after buying an additional 86 shares during the period. Finally, Guardian Wealth Advisors LLC raised its holdings in shares of Genuine Parts by 2.7% during the third 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 in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on GPC. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $124.80 on Friday. The firm has a market cap of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $129.44 and a 200 day moving average of $137.26.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 business 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 earned $2.49 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

Genuine Parts 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.