Mizuho Markets Americas LLC Acquires 3,522 Shares of Genuine Parts (NYSE:GPC)

Mizuho Markets Americas LLC boosted its stake in shares of Genuine Parts (NYSE:GPC) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,550 shares of the specialty retailer’s stock after purchasing an additional 3,522 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Genuine Parts were worth $5,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC increased its holdings in shares of Genuine Parts by 45.9% during the first quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer’s stock worth $383,000 after purchasing an additional 778 shares during the period. Kingsview Wealth Management LLC lifted its position in Genuine Parts by 5.7% during the first quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer’s stock worth $548,000 after purchasing an additional 191 shares during the period. Orion Portfolio Solutions LLC increased its holdings in Genuine Parts by 707.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,691 shares of the specialty retailer’s stock valued at $2,276,000 after buying an additional 12,871 shares during the period. Acadian Asset Management LLC raised its position in shares of Genuine Parts by 137.9% in the 1st quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after buying an additional 13,330 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in shares of Genuine Parts by 1.8% during the 1st quarter. Jacobi Capital Management LLC now owns 8,864 shares of the specialty retailer’s stock worth $1,373,000 after acquiring an additional 157 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of research reports. 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 report on Wednesday, October 23rd. UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Down 1.0 %

Shares of Genuine Parts stock opened at $122.62 on Friday. The stock has a market capitalization of $17.05 billion, a PE ratio of 15.78 and a beta of 0.92. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a 50 day moving average price of $130.79 and a two-hundred day moving average price of $138.44. 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 (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.49 earnings per share. As a group, equities analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Genuine Parts Company 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.