Genuine Parts (NYSE:GPC) Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its holdings in Genuine Parts (NYSE:GPC) by 51.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,297 shares of the specialty retailer’s stock after selling 3,558 shares during the quarter. XTX Topco Ltd’s holdings in Genuine Parts were worth $456,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Stifel Financial Corp grew its stake in Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares during the last quarter. Wulff Hansen & CO. boosted its position in Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after buying an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after buying an additional 239,858 shares during the period. Morningstar Investment Services LLC raised its position in Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after buying an additional 357,091 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Genuine Parts by 0.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock valued at $75,517,000 after acquiring an additional 4,436 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wedbush lowered their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Truist Financial restated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. The Goldman Sachs Group dropped their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Evercore ISI reduced their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Trading Up 1.4 %

GPC opened at $139.66 on Wednesday. The business’s 50 day moving average price is $139.62 and its 200 day moving average price is $145.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The stock has a market capitalization of $19.45 billion, a PE ratio of 15.57 and a beta of 0.90. Genuine Parts has a one year low of $126.35 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion for 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 firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. As a group, equities research analysts expect that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.