TCTC Holdings LLC Lowers Holdings in Genuine Parts (NYSE:GPC)

TCTC Holdings LLC trimmed its holdings in Genuine Parts (NYSE:GPC) by 22.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,100 shares of the specialty retailer’s stock after selling 600 shares during the period. TCTC Holdings LLC’s holdings in Genuine Parts were worth $245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GPC. Quantinno Capital Management LP boosted its position in shares of Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares during the period. Caprock Group LLC purchased a new position in shares of Genuine Parts during the fourth quarter worth $540,000. Verity & Verity LLC boosted its position in shares of Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after buying an additional 9,199 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Genuine Parts during the fourth quarter worth $21,840,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after buying an additional 56,776 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Up 2.3 %

Genuine Parts stock opened at $122.16 on Monday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a market cap of $16.95 billion, a PE ratio of 18.88 and a beta of 0.93. The stock’s fifty day moving average is $120.41 and its two-hundred day moving average is $125.30.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period last year, the firm earned $2.26 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Analysts Set New Price Targets

Several research firms have recently commented on GPC. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $137.63.

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.