UMB Bank n.a. Reduces Position in Genuine Parts (NYSE:GPC)

UMB Bank n.a. trimmed its position in shares of Genuine Parts (NYSE:GPC) by 5.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,159 shares of the specialty retailer’s stock after selling 879 shares during the period. UMB Bank n.a.’s holdings in Genuine Parts were worth $1,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock valued at $198,338,000 after purchasing an additional 182,965 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Genuine Parts by 436.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock valued at $3,672,000 after purchasing an additional 25,583 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $21,840,000. Parvin Asset Management LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $1,320,000. Finally, FORA Capital LLC raised its position in shares of Genuine Parts by 410.9% during the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer’s stock valued at $3,075,000 after purchasing an additional 21,178 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Genuine Parts stock opened at $125.24 on Tuesday. The company’s 50-day moving average price is $119.78 and its 200-day moving average price is $120.34. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a market cap of $17.38 billion, a PE ratio of 19.36 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. On average, equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.29%. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

Analyst Ratings Changes

Several brokerages have recently commented on GPC. Wall Street Zen downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Evercore ISI reduced their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Truist Financial lifted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.86.

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.