Dimensional Fund Advisors LP Purchases 239,858 Shares of Genuine Parts (NYSE:GPC)

Dimensional Fund Advisors LP grew its holdings in shares of Genuine Parts (NYSE:GPC) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,368,562 shares of the specialty retailer’s stock after purchasing an additional 239,858 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.98% of Genuine Parts worth $189,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GPC. Assetmark Inc. raised its position in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares during the period. WD Rutherford LLC bought a new position in Genuine Parts in the 1st quarter worth $26,000. Union Savings Bank lifted its position in Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in Genuine Parts during the first quarter valued at about $35,000. Finally, Stephens Consulting LLC increased its position in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.8 %

GPC stock opened at $139.14 on Friday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of 15.51 and a beta of 0.90. The business has a 50 day simple moving average of $139.71 and a two-hundred day simple moving average of $145.46.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GPC shares. UBS Group reduced their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Truist Financial reissued a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. The Goldman Sachs Group reduced their target price 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. Evercore ISI reduced 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, July 24th. Finally, Wedbush reduced their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $161.14.

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.