BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 174,834 Shares of Genuine Parts (NYSE:GPC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in shares of Genuine Parts (NYSE:GPC) by 80.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,263 shares of the specialty retailer’s stock after selling 174,834 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Genuine Parts were worth $5,764,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Wulff Hansen & CO. grew its stake in Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after buying an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Genuine Parts by 29.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after purchasing an additional 223,712 shares during the period. Hamlin Capital Management LLC lifted its holdings in Genuine Parts by 12.3% during the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after purchasing an additional 64,520 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC opened at $124.80 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The business has a 50-day moving average of $129.44 and a 200-day moving average of $137.14. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 16.06 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.49 earnings per share. As a group, equities research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report 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 report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.57.

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.