Genuine Parts Company (NYSE:GPC) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 6.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,120 shares of the specialty retailer's stock after buying an additional 4,734 shares during the period. Cullen Frost Bankers Inc. owned 0.05% of Genuine Parts worth $8,831,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC lifted its stake in shares of Genuine Parts by 51.0% in the 1st quarter. Wealthfront Advisers LLC now owns 6,094 shares of the specialty retailer's stock valued at $726,000 after purchasing an additional 2,058 shares during the last quarter. Pinkerton Retirement Specialists LLC lifted its stake in shares of Genuine Parts by 11.5% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 35,173 shares of the specialty retailer's stock valued at $4,191,000 after purchasing an additional 3,632 shares during the last quarter. United Community Bank lifted its stake in shares of Genuine Parts by 4,452.1% in the 1st quarter. United Community Bank now owns 16,251 shares of the specialty retailer's stock valued at $1,936,000 after purchasing an additional 15,894 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Genuine Parts in the 1st quarter valued at $369,000. Finally, Sigma Planning Corp lifted its stake in shares of Genuine Parts by 11.3% in the 1st quarter. Sigma Planning Corp now owns 3,979 shares of the specialty retailer's stock valued at $474,000 after purchasing an additional 403 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Down 0.6%

NYSE GPC traded down $0.71 during trading hours on Friday, hitting $122.82. 1,460,565 shares of the company were exchanged, compared to its average volume of 1,299,564. The company has a 50 day moving average of $124.14 and a two-hundred day moving average of $120.56. The company has a quick ratio of 0.52, a current ratio of 1.15 and a debt-to-equity ratio of 0.85. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $149.22. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of 20.17 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Equities research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.35%. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

Analyst Upgrades and Downgrades

GPC has been the topic of several recent analyst reports. Evercore ISI decreased their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Truist Financial upped their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

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.