Skandinaviska Enskilda Banken AB publ Has $4.04 Million Stock Position in Genuine Parts (NYSE:GPC)

Skandinaviska Enskilda Banken AB publ grew its stake in Genuine Parts (NYSE:GPC) by 21.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,240 shares of the specialty retailer’s stock after purchasing an additional 5,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Genuine Parts were worth $4,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GPC. WD Rutherford LLC acquired a new position in shares of Genuine Parts in the 1st quarter valued at $26,000. Assetmark Inc. raised its stake in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares during the last quarter. Union Savings Bank increased its holdings in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new position in Genuine Parts in the 1st quarter worth approximately $35,000. Finally, Stephens Consulting LLC lifted its holdings in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GPC has been the topic of several research reports. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. 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 research report on Wednesday, July 3rd. The Goldman Sachs Group reduced their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Evercore ISI reduced their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Finally, Truist Financial reissued a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Down 1.5 %

NYSE:GPC opened at $137.02 on Monday. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 15.28 and a beta of 0.90. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The stock’s 50 day moving average price is $139.73 and its two-hundred day moving average price is $145.26. 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 (NYSE:GPC) last released its quarterly earnings data 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 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 the consensus estimate of $6.03 billion. During the same period last year, the firm earned $2.44 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts expect that Genuine Parts will post 9.37 earnings per share 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 paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.92%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.