Crossmark Global Holdings Inc. Has $1.07 Million Stock Position in Genuine Parts (NYSE:GPC)

Crossmark Global Holdings Inc. reduced its stake in shares of Genuine Parts (NYSE:GPC) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,622 shares of the specialty retailer’s stock after selling 1,192 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Genuine Parts were worth $1,065,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Empowered Funds LLC grew its stake in shares of Genuine Parts by 45.9% in the first quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer’s stock worth $383,000 after acquiring an additional 778 shares during the last quarter. Sei Investments Co. increased its stake in shares of Genuine Parts by 55.9% in the 1st quarter. Sei Investments Co. now owns 106,239 shares of the specialty retailer’s stock valued at $16,456,000 after acquiring an additional 38,102 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Genuine Parts by 11.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 172,755 shares of the specialty retailer’s stock valued at $28,904,000 after purchasing an additional 17,346 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Genuine Parts by 8.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 206,794 shares of the specialty retailer’s stock valued at $32,039,000 after purchasing an additional 16,953 shares during the period. Finally, Kingsview Wealth Management LLC boosted its position in Genuine Parts by 5.7% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer’s stock worth $548,000 after acquiring an additional 191 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GPC shares. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial dropped their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

GPC opened at $123.87 on Friday. The firm has a market cap of $17.22 billion, a P/E ratio of 15.94 and a beta of 0.92. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. 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 business’s fifty day moving average is $131.02 and its 200-day moving average is $138.84.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $2.49 earnings per share. Sell-side analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.