Chevy Chase Trust Holdings LLC Cuts Stake in Genuine Parts (NYSE:GPC)

Chevy Chase Trust Holdings LLC decreased its position in Genuine Parts (NYSE:GPC) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,905 shares of the specialty retailer’s stock after selling 1,696 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Genuine Parts were worth $10,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GPC. NBC Securities Inc. raised its position in shares of Genuine Parts by 27.1% in the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after acquiring an additional 668 shares in the last quarter. ICW Investment Advisors LLC lifted its position in shares of Genuine Parts by 2.8% in the fourth quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after acquiring an additional 221 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Genuine Parts by 22.0% in the fourth quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after acquiring an additional 26,710 shares in the last quarter. Stifel Financial Corp lifted its position in shares of 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 in the last quarter. Finally, Comerica Bank lifted its position in shares of Genuine Parts by 19.6% in the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock valued at $17,609,000 after acquiring an additional 18,657 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC traded up $4.18 during trading on Wednesday, hitting $143.71. 401,660 shares of the stock were exchanged, compared to its average volume of 1,003,953. The company has a fifty day moving average price of $138.67 and a two-hundred day moving average price of $146.26. The company has a market cap of $20.02 billion, a PE ratio of 15.71 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 12-month low of $126.35 and a 12-month 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 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 firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period last year, the firm earned $2.44 EPS. Genuine Parts’s revenue was up .8% compared to the same quarter last year. On average, analysts forecast that Genuine Parts will post 9.36 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced 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. This represents a $4.00 dividend on an annualized basis and a yield of 2.78%. Genuine Parts’s payout ratio is currently 44.59%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GPC. Wedbush cut their target price 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. Truist Financial lowered their price target on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Evercore ISI lowered their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus target price 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.