Hsbc Holdings PLC Trims Stake in Genuine Parts (NYSE:GPC)

Hsbc Holdings PLC reduced its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,141 shares of the specialty retailer's stock after selling 28,930 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of Genuine Parts worth $30,945,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Caprock Group LLC acquired a new position in Genuine Parts during the fourth quarter worth about $540,000. Dimensional Fund Advisors LP increased its position in Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock worth $198,338,000 after purchasing an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Genuine Parts by 436.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after buying an additional 25,583 shares in the last quarter. Verity & Verity LLC grew its stake in shares of Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock worth $12,198,000 after buying an additional 9,199 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Genuine Parts in the 4th quarter valued at $21,840,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Down 0.8 %

Shares of NYSE:GPC traded down $0.91 during mid-day trading on Thursday, hitting $116.65. 168,077 shares of the company traded hands, compared to its average volume of 1,602,832. The stock has a 50-day moving average price of $118.71 and a two-hundred day moving average price of $120.37. The stock has a market cap of $16.19 billion, a P/E ratio of 18.03 and a beta of 0.82. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $159.77.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, equities research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 3.53%. Genuine Parts's payout ratio is 67.65%.

Analysts Set New Price Targets

GPC has been the subject of several research reports. Evercore ISI dropped their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report 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 report on Thursday, April 24th. Finally, Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective for the company. One 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 company. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of "Moderate Buy" and an average target price 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.