Royal Bank of Canada Lowers Holdings in Genuine Parts (NYSE:GPC)

Royal Bank of Canada trimmed its holdings in Genuine Parts (NYSE:GPC - Free Report) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 979,445 shares of the specialty retailer's stock after selling 22,850 shares during the period. Royal Bank of Canada owned about 0.70% of Genuine Parts worth $114,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Genuine Parts by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after acquiring an additional 65,783 shares in the last quarter. Invesco Ltd. lifted its position in shares of Genuine Parts by 18.9% in the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after acquiring an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Genuine Parts by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after acquiring an additional 145,960 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Genuine Parts by 21.6% in the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after acquiring an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Genuine Parts by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock valued at $249,426,000 after acquiring an additional 104,343 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Truist Financial lifted their target price on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Finally, Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Trading Up 0.4%

Shares of NYSE GPC opened at $129.18 on Tuesday. The business's 50 day moving average is $117.96 and its two-hundred day moving average is $119.87. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $153.44. The stock has a market capitalization of $17.93 billion, a P/E ratio of 19.97 and a beta of 0.76.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data 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 25.28% and a net margin of 3.85%. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. As a group, research analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.19%. Genuine Parts's dividend payout ratio is 67.65%.

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.

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