UMB Bank n.a. Sells 1,350 Shares of Genuine Parts (NYSE:GPC)

UMB Bank n.a. reduced its stake in shares of Genuine Parts (NYSE:GPC) by 7.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,038 shares of the specialty retailer’s stock after selling 1,350 shares during the quarter. UMB Bank n.a.’s holdings in Genuine Parts were worth $1,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP increased its position in shares of Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares during the last quarter. Miramar Capital LLC increased its position in Genuine Parts by 9.8% during the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after acquiring an additional 7,845 shares during the last quarter. Conning Inc. raised its stake in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after acquiring an additional 19,795 shares during the period. WD Rutherford LLC lifted its holdings in shares of Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after acquiring an additional 7,252 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Genuine Parts by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after purchasing an additional 56,776 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GPC. UBS Group decreased their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Wedbush reduced their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $141.50.

Genuine Parts Price Performance

NYSE GPC opened at $118.43 on Tuesday. The company has a market cap of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm’s 50 day moving average price is $120.61 and its 200-day moving average price is $130.26.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.49 earnings per share. Sell-side analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.38%. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

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.