Atlantic Union Bankshares Corp Trims Holdings in Genuine Parts (NYSE:GPC)

Atlantic Union Bankshares Corp decreased its position in shares of Genuine Parts (NYSE:GPC) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,264 shares of the specialty retailer’s stock after selling 1,752 shares during the period. Atlantic Union Bankshares Corp’s holdings in Genuine Parts were worth $2,111,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wedbush dropped their price target 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. Evercore ISI dropped 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 research report on Wednesday, July 24th. Truist Financial cut their target price on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group cut their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Trading Up 0.6 %

Shares of GPC opened at $142.21 on Friday. The stock has a market capitalization of $19.81 billion, a PE ratio of 15.85 and a beta of 0.92. The company’s fifty day moving average is $138.81 and its 200 day moving average is $146.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last issued 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). The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. Sell-side analysts expect that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.81%. 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.