Hancock Whitney Corp Lowers Position in Genuine Parts (NYSE:GPC)

Hancock Whitney Corp decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 16.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,168 shares of the specialty retailer’s stock after selling 843 shares during the period. Hancock Whitney Corp’s holdings in Genuine Parts were worth $577,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GPC. Assetmark Inc. lifted its stake in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. WD Rutherford LLC purchased a new position in shares of Genuine Parts in the 1st quarter worth approximately $26,000. Union Savings Bank grew its holdings in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new position in Genuine Parts during the 1st quarter valued at about $35,000. Finally, Stephens Consulting LLC grew its stake in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $137.74 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $19.19 billion, a price-to-earnings ratio of 15.36 and a beta of 0.90. The stock has a 50-day moving average of $139.66 and a 200 day moving average of $145.17. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the company earned $2.44 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Wedbush reduced their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group dropped their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Evercore ISI reduced their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $161.14.

Genuine Parts 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.