Toronto Dominion Bank Decreases Stock Holdings in Genuine Parts (NYSE:GPC)

Toronto Dominion Bank trimmed its holdings in Genuine Parts (NYSE:GPC) by 13.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,117 shares of the specialty retailer’s stock after selling 12,267 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Genuine Parts worth $12,258,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Manchester Capital Management LLC lifted its stake in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 70 shares during the period. CHICAGO TRUST Co NA raised its position in shares of Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after buying an additional 71 shares during the period. Checchi Capital Advisers LLC raised its position in shares of Genuine Parts by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock valued at $489,000 after buying an additional 76 shares during the period. Finally, Grimes & Company Inc. raised its position in shares of Genuine Parts by 2.5% during the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after buying an additional 79 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GPC has been the topic of several analyst reports. UBS Group reduced their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday. Evercore ISI dropped their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday. Finally, Truist Financial dropped their target price on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $161.14.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 3.0 %

Shares of NYSE:GPC traded up $4.10 during trading on Friday, hitting $142.07. The company’s stock had a trading volume of 988,166 shares, compared to its average volume of 1,026,128. The business has a 50 day moving average price of $140.29 and a two-hundred day moving average price of $146.28. The company has a market capitalization of $19.79 billion, a PE ratio of 15.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.59 and a current ratio of 1.12. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. As a group, research analysts expect that Genuine Parts will post 9.36 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $1.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.82%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

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.