Mizuho Markets Americas LLC Sells 36,831 Shares of Genuine Parts (NYSE:GPC)

Mizuho Markets Americas LLC cut its position in shares of Genuine Parts (NYSE:GPC) by 49.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,028 shares of the specialty retailer’s stock after selling 36,831 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Genuine Parts were worth $5,260,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GPC. Farther Finance Advisors LLC grew its holdings in Genuine Parts by 106.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,731 shares of the specialty retailer’s stock valued at $232,000 after buying an additional 893 shares in the last quarter. Van ECK Associates Corp bought a new position in Genuine Parts during the second quarter worth about $2,873,000. Banque Cantonale Vaudoise bought a new stake in Genuine Parts in the 2nd quarter valued at about $414,000. Commonwealth Equity Services LLC grew its position in shares of Genuine Parts by 8.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 83,348 shares of the specialty retailer’s stock worth $11,529,000 after purchasing an additional 6,810 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of Genuine Parts by 93.3% during the second quarter. Concurrent Investment Advisors LLC now owns 12,870 shares of the specialty retailer’s stock worth $1,780,000 after purchasing an additional 6,212 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC stock traded up $0.98 on Friday, reaching $143.26. The company had a trading volume of 821,937 shares, compared to its average volume of 683,963. The stock has a market capitalization of $19.96 billion, a PE ratio of 15.97 and a beta of 0.92. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average is $139.05 and its 200 day moving average is $146.24. Genuine Parts has a one year low of $126.35 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 EPS. Equities research analysts forecast that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. Genuine Parts’s payout ratio is presently 44.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GPC shares. The Goldman Sachs Group cut their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Evercore ISI reduced their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Thursday. UBS Group reduced their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Finally, Truist Financial restated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $161.14.

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.