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

Cullen Frost Bankers Inc. lifted its stake in shares of Genuine Parts (NYSE:GPC) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 49,725 shares of the specialty retailer’s stock after buying an additional 3,256 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Genuine Parts were worth $6,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GPC. OFI Invest Asset Management purchased a new position in Genuine Parts during the 3rd quarter worth $25,000. Briaud Financial Planning Inc bought a new position in shares of Genuine Parts during the 3rd quarter worth $28,000. Milestone Investment Advisors LLC purchased a new position in shares of Genuine Parts during the third quarter valued at $28,000. Authentikos Wealth Advisory LLC bought a new stake in shares of Genuine Parts in the third quarter valued at about $40,000. Finally, Orion Capital Management LLC purchased a new stake in Genuine Parts in the third quarter worth about $42,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $154.33 on Thursday. The firm has a market capitalization of $21.50 billion, a P/E 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. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company has a 50 day moving average price of $153.70 and a 200 day moving average price of $143.69.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 EPS. Sell-side analysts expect that Genuine Parts will post 9.94 EPS for the current year.

Genuine Parts Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts 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.