Mizuho Markets Americas LLC Boosts Stock Holdings in Genuine Parts (NYSE:GPC)

Mizuho Markets Americas LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 9.3% in the 3rd quarter, Holdings Channel reports. The fund owned 41,550 shares of the specialty retailer’s stock after buying an additional 3,522 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Genuine Parts were worth $5,804,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts in the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts during the third quarter valued at about $31,000. Concord Wealth Partners lifted its holdings in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Genuine Parts in the second quarter valued at approximately $40,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Genuine Parts during the 3rd quarter worth approximately $44,000. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Price Performance

NYSE GPC opened at $122.62 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92. The stock has a 50-day moving average of $130.79 and a 200 day moving average of $138.44. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results 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). The firm had revenue of $6 billion during 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 firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.49 EPS. On average, sell-side analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued 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 yield of 3.26%. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.