DekaBank Deutsche Girozentrale Has $6.27 Million Stock Position in Genuine Parts (NYSE:GPC)

DekaBank Deutsche Girozentrale lessened its holdings in Genuine Parts (NYSE:GPC) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,343 shares of the specialty retailer’s stock after selling 372 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Genuine Parts were worth $6,274,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GPC. Wulff Hansen & CO. boosted its holdings in Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after acquiring an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after purchasing an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after purchasing an additional 223,712 shares in the last quarter. International Assets Investment Management LLC increased its stake in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after buying an additional 580,262 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Genuine Parts by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 544,579 shares of the specialty retailer’s stock worth $75,326,000 after buying an additional 13,753 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $114.69 on Friday. The company has a 50-day moving average price of $135.82 and a two-hundred day moving average price of $141.50. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $15.95 billion, a PE ratio of 14.76 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the firm posted $2.49 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts forecast that Genuine Parts will post 8.1 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.49%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GPC. JPMorgan Chase & Co. decreased their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Finally, Wedbush decreased their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.57.

About Genuine Parts

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.