Mizuho Securities USA LLC Has $1.33 Million Stock Position in Genuine Parts Company (NYSE:GPC)

Key Points

• Mizuho Securities USA LLC reduced its stake in Genuine Parts Company by 15.5% in Q1, holding 11,133 shares valued at approximately $1.33 million after selling 2,044 shares.
• Several large investors have increased their positions in Genuine Parts, with Canada Pension Plan Investment Board raising its stake by an impressive 436.0% during the last quarter.
• The company announced a quarterly dividend of $1.03 per share, which will be paid to investors of record on September 5th, representing a 3.1% dividend yield.

Mizuho Securities USA LLC decreased its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,133 shares of the specialty retailer's stock after selling 2,044 shares during the quarter. Mizuho Securities USA LLC's holdings in Genuine Parts were worth $1,326,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fiduciary Family Office LLC purchased a new position in shares of Genuine Parts in the first quarter worth approximately $423,000. Benjamin Edwards Inc. grew its holdings in shares of Genuine Parts by 12.2% during the first quarter. Benjamin Edwards Inc. now owns 9,964 shares of the specialty retailer's stock valued at $1,187,000 after buying an additional 1,081 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock valued at $327,974,000 after buying an additional 498,469 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Genuine Parts during the first quarter valued at $9,531,000. Finally, Townsquare Capital LLC boosted its position in Genuine Parts by 2.0% during the 1st quarter. Townsquare Capital LLC now owns 23,005 shares of the specialty retailer's stock worth $2,741,000 after acquiring an additional 443 shares during the period. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Loop Capital increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Evercore ISI lowered their target price 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. Finally, JPMorgan Chase & Co. raised their price target on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of "Hold" and a consensus price target of $135.29.

Genuine Parts Stock Up 0.0%

NYSE GPC traded up $0.02 during trading on Friday, hitting $137.79. 1,285,449 shares of the company traded hands, compared to its average volume of 1,348,312. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.49. The business has a fifty day simple moving average of $126.96 and a 200 day simple moving average of $122.78. The company has a market capitalization of $19.17 billion, a P/E ratio of 23.72 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $2.44 EPS. As a group, sell-side analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be paid a $1.03 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. Genuine Parts's dividend payout ratio (DPR) is presently 70.91%.

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.