11,434 Shares in Genuine Parts (NYSE:GPC) Purchased by Virtu Financial LLC

Virtu Financial LLC bought a new stake in Genuine Parts (NYSE:GPC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,434 shares of the specialty retailer’s stock, valued at approximately $1,582,000.

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp boosted its position in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares during the period. Comerica Bank lifted its stake in Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after purchasing an additional 18,657 shares in the last quarter. Harvest Investment Advisors LLC boosted its position in shares of Genuine Parts by 1.5% during the fourth quarter. Harvest Investment Advisors LLC now owns 8,869 shares of the specialty retailer’s stock worth $1,228,000 after buying an additional 133 shares during the period. Mezzasalma Advisors LLC grew its stake in shares of Genuine Parts by 497.0% in the first quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock valued at $1,865,000 after buying an additional 10,019 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Genuine Parts by 137.9% in the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after buying an additional 13,330 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.1 %

Shares of NYSE:GPC opened at $137.28 on Wednesday. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The company’s 50 day moving average is $139.47 and its two-hundred day moving average is $145.59. The company has a market cap of $19.12 billion, a PE ratio of 15.30 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last posted its 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). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period last year, the company earned $2.44 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GPC. Evercore ISI decreased their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wedbush reduced their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Truist Financial reissued a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average 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.