Zurcher Kantonalbank Zurich Cantonalbank Has $4.31 Million Stock Position in Genuine Parts (NYSE:GPC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,886 shares of the specialty retailer’s stock after buying an additional 3,601 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Genuine Parts were worth $4,314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPC. FORA Capital LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth approximately $720,000. CreativeOne Wealth LLC acquired a new position in shares of Genuine Parts in the third quarter valued at $620,000. Townsquare Capital LLC raised its position in shares of Genuine Parts by 0.4% in the third quarter. Townsquare Capital LLC now owns 27,881 shares of the specialty retailer’s stock valued at $3,894,000 after purchasing an additional 115 shares during the period. Transamerica Financial Advisors Inc. lifted its stake in shares of Genuine Parts by 12.2% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 5,666 shares of the specialty retailer’s stock worth $792,000 after buying an additional 616 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Genuine Parts by 72.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 215,644 shares of the specialty retailer’s stock worth $30,121,000 after buying an additional 90,731 shares during the period. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GPC. Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Truist Financial dropped their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Price Performance

GPC stock opened at $127.51 on Tuesday. The company’s 50-day moving average price is $128.43 and its two-hundred day moving average price is $136.15. The firm has a market cap of $17.73 billion, a P/E ratio of 16.41 and a beta of 0.92. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

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

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 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.