Zurcher Kantonalbank Zurich Cantonalbank Has $3.43 Million Stock Position in Genuine Parts (NYSE:GPC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Genuine Parts (NYSE:GPC) by 4.9% in the 4th quarter, Holdings Channel reports. The firm owned 29,379 shares of the specialty retailer’s stock after selling 1,507 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Genuine Parts were worth $3,430,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Genuine Parts by 2.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 385,026 shares of the specialty retailer’s stock valued at $53,780,000 after acquiring an additional 7,734 shares during the period. Victory Capital Management Inc. grew its holdings in Genuine Parts by 59.9% in the 3rd quarter. Victory Capital Management Inc. now owns 199,232 shares of the specialty retailer’s stock valued at $27,829,000 after buying an additional 74,607 shares during the last quarter. Metis Global Partners LLC increased its position in Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after buying an additional 85 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Genuine Parts by 7.1% during the third quarter. CIBC Asset Management Inc now owns 23,768 shares of the specialty retailer’s stock worth $3,320,000 after buying an additional 1,572 shares during the last quarter. Finally, Royce & Associates LP boosted its position in shares of Genuine Parts by 8.7% in the third quarter. Royce & Associates LP now owns 12,500 shares of the specialty retailer’s stock valued at $1,746,000 after acquiring an additional 1,000 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $122.16 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The business’s fifty day moving average price is $120.41 and its two-hundred day moving average price is $125.42. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 18.88 and a beta of 0.93.

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

Genuine Parts Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.