Genuine Parts (NYSE:GPC) Price Target Cut to $150.00 by Analysts at UBS Group

Genuine Parts (NYSE:GPC) had its target price lowered by UBS Group from $165.00 to $150.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

GPC has been the topic of several other reports. Jefferies Financial Group increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a hold rating in a research report on Friday, April 19th. Truist Financial lifted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a buy rating in a report on Friday, April 19th. Wedbush reissued a neutral rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Evercore ISI dropped their price target on shares of Genuine Parts from $165.00 to $160.00 and set an in-line rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Genuine Parts from a hold rating to a buy rating in a research note on Friday, May 24th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $167.75.

Genuine Parts Trading Down 1.8 %

NYSE GPC opened at $133.50 on Wednesday. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $170.57. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $18.60 billion, a P/E ratio of 14.88 and a beta of 0.92. The firm has a 50-day moving average price of $146.85 and a 200 day moving average price of $146.44.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $2.14 earnings per share. Equities research analysts expect that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. raised its position in shares of Genuine Parts by 27.1% during the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after buying an additional 668 shares in the last quarter. ICW Investment Advisors LLC grew its position in Genuine Parts by 2.8% in the fourth quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock worth $1,120,000 after acquiring an additional 221 shares in the last quarter. BNP Paribas Financial Markets grew its position in Genuine Parts by 22.0% in the fourth quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock worth $20,515,000 after acquiring an additional 26,710 shares in the last quarter. Stifel Financial Corp grew its position in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after acquiring an additional 431,623 shares in the last quarter. Finally, Conning Inc. grew its position in Genuine Parts by 5.9% in the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock worth $31,501,000 after acquiring an additional 12,634 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

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.