Genuine Parts (NYSE:GPC) Stock Holdings Lowered by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp cut its position in Genuine Parts (NYSE:GPC) by 13.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,144 shares of the specialty retailer’s stock after selling 2,120 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Genuine Parts were worth $1,836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Genuine Parts by 0.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 192,927 shares of the specialty retailer’s stock worth $29,891,000 after buying an additional 1,127 shares during the period. Tidal Investments LLC increased its holdings in shares of Genuine Parts by 63.8% during the first quarter. Tidal Investments LLC now owns 11,866 shares of the specialty retailer’s stock valued at $1,838,000 after purchasing an additional 4,620 shares during the period. Swedbank AB bought a new stake in shares of Genuine Parts during the first quarter valued at about $18,647,000. Atria Investments Inc raised its stake in shares of Genuine Parts by 107.9% during the first quarter. Atria Investments Inc now owns 19,374 shares of the specialty retailer’s stock valued at $3,002,000 after purchasing an additional 10,055 shares in the last quarter. Finally, Burney Co. lifted its holdings in Genuine Parts by 2.5% in the first quarter. Burney Co. now owns 4,080 shares of the specialty retailer’s stock worth $632,000 after purchasing an additional 100 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $126.77 on Friday. The company has a market capitalization of $17.63 billion, a PE ratio of 16.32 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The stock has a fifty day moving average of $128.63 and a 200-day moving average of $136.63. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue for the quarter 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, equities analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Ratings Changes

A number of analysts have commented on GPC shares. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group cut their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. 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. Finally, Wedbush cut their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.