Barclays PLC Lowers Position in Genuine Parts (NYSE:GPC)

Barclays PLC decreased its stake in shares of Genuine Parts (NYSE:GPC) by 26.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 347,350 shares of the specialty retailer’s stock after selling 122,269 shares during the period. Barclays PLC’s holdings in Genuine Parts were worth $48,517,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GPC. Wulff Hansen & CO. increased its stake in shares of 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 purchasing an additional 1,555,149 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Genuine Parts by 14,222.1% during the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the period. State Street Corp increased its position in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Genuine Parts in the third quarter valued at $39,474,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Genuine Parts by 1,038.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after buying an additional 253,400 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Genuine Parts stock opened at $121.73 on Friday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $16.92 billion, a PE ratio of 15.67 and a beta of 0.94. The firm’s 50 day simple moving average is $125.86 and its 200 day simple moving average is $134.77.

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 the consensus estimate 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%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.49 EPS. As a group, analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.29%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

GPC has been the topic of a number of research reports. The Goldman Sachs Group lowered 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. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial lowered their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.57.

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.