TCTC Holdings LLC Lowers Holdings in Genuine Parts (NYSE:GPC)

TCTC Holdings LLC lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the specialty retailer’s stock after selling 600 shares during the quarter. TCTC Holdings LLC’s holdings in Genuine Parts were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp boosted its position in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Geode Capital Management LLC boosted its position in Genuine Parts by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after purchasing an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Genuine Parts by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after purchasing an additional 145,960 shares in the last quarter. Stifel Financial Corp boosted its position in Genuine Parts by 1.2% during the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after purchasing an additional 25,015 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GPC shares. Evercore ISI lowered their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Truist Financial increased their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Price Performance

NYSE:GPC opened at $122.16 on Monday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a market cap of $16.95 billion, a PE ratio of 18.88 and a beta of 0.93. The stock has a 50 day moving average price of $120.41 and a 200 day moving average price of $125.30.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter last year, the firm earned $2.26 earnings per share. Equities research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.37%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 63.68%.

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.