Victory Capital Management Inc. Grows Stake in Genuine Parts (NYSE:GPC)

Victory Capital Management Inc. boosted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 59.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,232 shares of the specialty retailer's stock after purchasing an additional 74,607 shares during the period. Victory Capital Management Inc. owned about 0.14% of Genuine Parts worth $27,829,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Kingsview Wealth Management LLC raised its holdings in Genuine Parts by 5.7% in the 1st quarter. Kingsview Wealth Management LLC now owns 3,537 shares of the specialty retailer's stock worth $548,000 after acquiring an additional 191 shares during the period. Orion Portfolio Solutions LLC raised its stake in Genuine Parts by 707.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 14,691 shares of the specialty retailer's stock worth $2,276,000 after buying an additional 12,871 shares during the period. Acadian Asset Management LLC boosted its holdings 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 during the period. O Shaughnessy Asset Management LLC raised its position in Genuine Parts by 13.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,915 shares of the specialty retailer's stock valued at $2,930,000 after buying an additional 2,249 shares during the last quarter. Finally, Seven Eight Capital LP grew its holdings in shares of Genuine Parts by 116.7% in the 1st quarter. Seven Eight Capital LP now owns 8,535 shares of the specialty retailer's stock valued at $1,322,000 after acquiring an additional 4,597 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $139.57.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $1.56 on Monday, hitting $124.18. 905,764 shares of the company's stock were exchanged, compared to its average volume of 1,057,059. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a market capitalization of $17.27 billion, a PE ratio of 15.98 and a beta of 0.92. The company has a 50-day simple moving average of $130.54 and a 200-day simple moving average of $138.08.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion during the quarter, compared to analysts' expectations of $5.94 billion. During the same period in the previous year, the business earned $2.49 earnings per share. The business's quarterly revenue was up 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.22%. Genuine Parts's dividend payout ratio (DPR) is presently 51.48%.

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.