CENTRAL TRUST Co Trims Stock Position in Genuine Parts (NYSE:GPC)

CENTRAL TRUST Co cut its stake in shares of Genuine Parts (NYSE:GPC – Get Rating) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,198 shares of the specialty retailer’s stock after selling 154 shares during the quarter. CENTRAL TRUST Co’s holdings in Genuine Parts were worth $1,374,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GPC. WD Rutherford LLC purchased a new position in shares of Genuine Parts during the third quarter worth approximately $25,000. Dupont Capital Management Corp increased its position in shares of Genuine Parts by 128.0% during the third quarter. Dupont Capital Management Corp now owns 171 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 96 shares during the period. BDO Wealth Advisors LLC increased its position in shares of Genuine Parts by 113.2% during the third quarter. BDO Wealth Advisors LLC now owns 226 shares of the specialty retailer’s stock worth $34,000 after acquiring an additional 120 shares during the period. Ronald Blue Trust Inc. purchased a new position in shares of Genuine Parts during the second quarter worth approximately $38,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Genuine Parts during the third quarter valued at approximately $40,000. 78.14% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of GPC opened at $163.13 on Thursday. The company has a market cap of $22.97 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90. Genuine Parts has a twelve month low of $124.85 and a twelve month high of $187.73. The company has a quick ratio of 0.57, a current ratio of 1.15 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $170.41 and a two-hundred day moving average of $169.58.

Genuine Parts (NYSE:GPC – Get Rating) last announced its earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.15. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period last year, the firm earned $1.79 earnings per share. Genuine Parts’s revenue was up 15.0% compared to the same quarter last year. As a group, analysts predict that Genuine Parts will post 8.93 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 3rd will be paid a dividend of $0.95 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, March 2nd. Genuine Parts’s payout ratio is presently 45.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GPC shares. StockNews.com started coverage on shares of Genuine Parts in a research note on Thursday. They set a “buy” rating on the stock. The Goldman Sachs Group increased their price objective on shares of Genuine Parts from $147.00 to $157.00 and gave the company a “sell” rating in a research note on Thursday, February 23rd. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a research note on Friday, February 24th. Finally, Truist Financial increased their price objective on shares of Genuine Parts from $170.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, February 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $152.20.

Genuine Parts Company Profile

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.