Cullen Frost Bankers Inc. Grows Stake in Genuine Parts (NYSE:GPC)

Cullen Frost Bankers Inc. increased its holdings in Genuine Parts (NYSE:GPC) by 7.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,725 shares of the specialty retailer’s stock after buying an additional 3,256 shares during the period. Cullen Frost Bankers Inc.’s holdings in Genuine Parts were worth $6,887,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC raised its holdings in shares of Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after acquiring an additional 74 shares in the last quarter. Financial Counselors Inc. lifted its position in Genuine Parts by 0.3% during the third quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after purchasing an additional 76 shares during the last quarter. Balentine LLC lifted its position in Genuine Parts by 2.2% during the third quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after purchasing an additional 76 shares during the last quarter. Grimes & Company Inc. grew its stake in Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock worth $440,000 after buying an additional 79 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of Genuine Parts by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock worth $445,000 after buying an additional 80 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.4 %

Shares of NYSE GPC opened at $154.33 on Thursday. The company has a market cap of $21.50 billion, a price-to-earnings ratio of 17.21 and a beta of 0.94. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The firm’s fifty day moving average is $153.70 and its 200 day moving average is $143.69. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.14 earnings per share. On average, equities research analysts expect that Genuine Parts will post 9.94 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.59%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial upped their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Evercore ISI reduced their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Wedbush reiterated a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $173.10.

Insider Activity

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.