Genuine Parts (NYSE:GPC) Holdings Reduced by First Hawaiian Bank

Posted by on Mar 23rd, 2023

First Hawaiian Bank decreased its position in Genuine Parts (NYSE:GPC – Get Rating) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,714 shares of the specialty retailer’s stock after selling 673 shares during the period. First Hawaiian Bank’s holdings in Genuine Parts were worth $991,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CFO4Life Group LLC acquired a new stake in Genuine Parts during the fourth quarter valued at approximately $205,000. Cullinan Associates Inc. acquired a new position in shares of Genuine Parts during the 4th quarter worth $614,000. Platform Technology Partners acquired a new position in shares of Genuine Parts during the 4th quarter worth $209,000. Foundations Investment Advisors LLC grew its stake in Genuine Parts by 41.2% in the 4th quarter. Foundations Investment Advisors LLC now owns 4,668 shares of the specialty retailer’s stock valued at $810,000 after buying an additional 1,362 shares during the last quarter. Finally, Wilson & Boucher Capital Management LLC acquired a new position in Genuine Parts in the 4th quarter valued at $226,000. 78.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Friday, February 24th. Truist Financial raised their price objective on shares of Genuine Parts from $170.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, February 24th. StockNews.com started coverage on shares of Genuine Parts in a research report on Thursday, March 16th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a research note on Thursday, February 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $152.20.

Genuine Parts Price Performance

NYSE:GPC opened at $162.63 on Thursday. Genuine Parts has a 52 week low of $124.85 and a 52 week high of $187.73. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 1.81 and a beta of 0.90. The firm’s 50-day simple moving average is $169.79 and its 200 day simple moving average is $169.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.15.

Genuine Parts (NYSE:GPC – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.15. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the prior year, the company posted $1.79 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts predict that Genuine Parts will post 8.93 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be issued a dividend of $0.95 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $3.80 annualized dividend and a yield of 2.34%. Genuine Parts’s dividend payout ratio (DPR) is presently 45.73%.

Genuine Parts Company Profile

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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