Citizens Financial Group Inc. RI Buys 103 Shares of Genuine Parts (NYSE:GPC)

Citizens Financial Group Inc. RI grew its stake in Genuine Parts (NYSE:GPC) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,788 shares of the specialty retailer’s stock after purchasing an additional 103 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Genuine Parts were worth $533,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Axxcess Wealth Management LLC lifted its position in shares of Genuine Parts by 12.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 1,649 shares of the specialty retailer’s stock worth $255,000 after buying an additional 183 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Genuine Parts by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 192,927 shares of the specialty retailer’s stock worth $29,891,000 after purchasing an additional 1,127 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Genuine Parts by 10.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 116,340 shares of the specialty retailer’s stock valued at $18,025,000 after purchasing an additional 10,683 shares during the last quarter. SVB Wealth LLC raised its stake in shares of Genuine Parts by 3.2% during the 1st quarter. SVB Wealth LLC now owns 4,927 shares of the specialty retailer’s stock worth $763,000 after purchasing an additional 151 shares during the period. Finally, Kinloch Capital LLC grew its position in Genuine Parts by 9.2% during the first quarter. Kinloch Capital LLC now owns 21,487 shares of the specialty retailer’s stock valued at $3,329,000 after buying an additional 1,807 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GPC. The Goldman Sachs Group dropped 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. UBS Group cut their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” 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. Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

NYSE:GPC opened at $124.80 on Friday. 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 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock has a market cap of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92. The business’s 50-day moving average price is $129.44 and its two-hundred day moving average price is $137.26.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 earnings per share. As a group, equities analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.21%. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.