Hsbc Holdings PLC Decreases Holdings in Genuine Parts (NYSE:GPC)

Hsbc Holdings PLC reduced its position in Genuine Parts (NYSE:GPC) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 316,219 shares of the specialty retailer’s stock after selling 6,280 shares during the period. Hsbc Holdings PLC owned approximately 0.23% of Genuine Parts worth $43,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Stifel Financial Corp lifted its holdings 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 valued at $281,078,000 after acquiring an additional 431,623 shares during the period. Wulff Hansen & CO. lifted its stake in shares of Genuine Parts by 13,732.0% in 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 period. Dimensional Fund Advisors LP boosted its holdings in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after buying an additional 239,858 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after acquiring an additional 357,091 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Genuine Parts by 0.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock valued at $75,517,000 after purchasing an additional 4,436 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.5 %

Shares of GPC stock opened at $137.02 on Friday. The stock has a market cap of $19.09 billion, a P/E ratio of 15.28 and a beta of 0.90. The company’s fifty day simple moving average is $139.76 and its two-hundred day simple moving average is $145.41. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45.

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

Genuine Parts Announces Dividend

The firm 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 $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Analysts Set New Price Targets

Several research firms have recently commented on GPC. Wedbush decreased their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI decreased their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Finally, UBS Group dropped their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $161.14.

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.