Hancock Whitney Corp Lowers Stock Holdings in Genuine Parts (NYSE:GPC)

Hancock Whitney Corp lowered its stake in Genuine Parts (NYSE:GPC) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,838 shares of the specialty retailer’s stock after selling 330 shares during the period. Hancock Whitney Corp’s holdings in Genuine Parts were worth $536,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GPC. Independent Advisor Alliance lifted its stake in shares of Genuine Parts by 2.5% in the 3rd quarter. Independent Advisor Alliance now owns 19,994 shares of the specialty retailer’s stock worth $2,793,000 after acquiring an additional 492 shares during the period. Daiwa Securities Group Inc. lifted its position in Genuine Parts by 12.9% in the third quarter. Daiwa Securities Group Inc. now owns 20,238 shares of the specialty retailer’s stock valued at $2,827,000 after purchasing an additional 2,312 shares during the period. Marco Investment Management LLC boosted its holdings in Genuine Parts by 1.2% in the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 91 shares in the last quarter. Larson Financial Group LLC increased its position in Genuine Parts by 66.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,812 shares of the specialty retailer’s stock worth $393,000 after purchasing an additional 1,126 shares during the period. Finally, Kingsview Wealth Management LLC raised its stake in shares of Genuine Parts by 18.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,658 shares of the specialty retailer’s stock worth $511,000 after buying an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GPC shares. The Goldman Sachs Group decreased 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. Evercore ISI upped their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Wedbush lowered their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Down 1.2 %

GPC stock opened at $127.88 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm has a market capitalization of $17.78 billion, a PE ratio of 16.46 and a beta of 0.92. The company’s 50 day simple moving average is $129.29 and its 200-day simple moving average is $136.96.

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

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

About Genuine Parts

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.