Genuine Parts Company (NYSE:GPC) Stock Holdings Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its holdings in Genuine Parts Company (NYSE:GPC) by 0.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 73,822 shares of the specialty retailer’s stock after selling 700 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Genuine Parts worth $8,795,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GPC. Sigma Planning Corp increased its holdings in shares of Genuine Parts by 20.5% in the 4th quarter. Sigma Planning Corp now owns 3,576 shares of the specialty retailer’s stock worth $418,000 after acquiring an additional 608 shares during the period. Illinois Municipal Retirement Fund increased its stake in Genuine Parts by 5.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 63,738 shares of the specialty retailer’s stock valued at $7,442,000 after buying an additional 3,554 shares during the period. Equity Investment Corp acquired a new position in Genuine Parts during the 4th quarter valued at about $84,128,000. New York Life Investment Management LLC increased its stake in Genuine Parts by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock valued at $2,188,000 after buying an additional 108 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Genuine Parts by 2.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 55,006 shares of the specialty retailer’s stock valued at $6,423,000 after buying an additional 1,200 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Shares of GPC opened at $119.18 on Friday. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22. The firm’s 50 day moving average is $121.76 and its 200-day moving average is $119.90. The stock has a market capitalization of $16.54 billion, a P/E ratio of 19.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. Equities research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio is 67.65%.

Analysts Set New Price Targets

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