Genuine Parts (NYSE:GPC) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp reduced its holdings in Genuine Parts (NYSE:GPC) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,838 shares of the specialty retailer’s stock after selling 330 shares during the quarter. Hancock Whitney Corp’s holdings in Genuine Parts were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GPC. Independent Advisor Alliance increased its stake in shares of Genuine Parts by 2.5% during the 3rd quarter. Independent Advisor Alliance now owns 19,994 shares of the specialty retailer’s stock valued at $2,793,000 after acquiring an additional 492 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Genuine Parts by 12.9% during the third quarter. Daiwa Securities Group Inc. now owns 20,238 shares of the specialty retailer’s stock worth $2,827,000 after purchasing an additional 2,312 shares during the last quarter. Marco Investment Management LLC raised its stake in Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after purchasing an additional 91 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Genuine Parts by 66.8% in the 3rd quarter. Larson Financial Group LLC now owns 2,812 shares of the specialty retailer’s stock valued at $393,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of Genuine Parts by 18.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,658 shares of the specialty retailer’s stock valued at $511,000 after buying an additional 565 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on GPC shares. JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group reduced their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. UBS Group dropped their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Wedbush reduced their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Trading Down 1.2 %

Shares of GPC opened at $127.88 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock has a 50-day moving average price of $129.29 and a 200 day moving average price of $136.96. The company has a market capitalization of $17.78 billion, a P/E ratio of 16.46 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.49 EPS. Sell-side analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.13%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.