80,000 Shares in Genuine Parts Company (NYSE:GPC) Acquired by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc acquired 80,000 shares of Genuine Parts Company, valued at approximately $9.53 million, during the first quarter, representing a 0.06% ownership stake in the company.
• Goldman Sachs increased its holdings in Genuine Parts by 276.2% during the first quarter, now owning over 3.35 million shares worth approximately $399.4 million.
• The company reported quarterly earnings of $2.10 per share, exceeding estimates, with revenue reaching $6.16 billion, marking a 3.4% year-over-year increase.

MUFG Securities EMEA plc purchased a new position in Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 80,000 shares of the specialty retailer's stock, valued at approximately $9,531,000. MUFG Securities EMEA plc owned approximately 0.06% of Genuine Parts as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Genuine Parts by 276.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock worth $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Junto Capital Management LP acquired a new stake in Genuine Parts during the 4th quarter worth $94,868,000. Alyeska Investment Group L.P. boosted its position in shares of Genuine Parts by 204.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock valued at $92,129,000 after acquiring an additional 530,057 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Genuine Parts by 20,194.9% during the 1st quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock valued at $56,749,000 after acquiring an additional 473,975 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after acquiring an additional 445,259 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Up 1.0%

NYSE GPC traded up $1.37 during trading hours on Tuesday, reaching $134.77. The company had a trading volume of 847,037 shares, compared to its average volume of 1,417,031. The stock has a 50-day moving average of $126.11 and a 200 day moving average of $122.28. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.49. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $18.75 billion, a P/E ratio of 23.20 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. The business had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 earnings per share. As a group, research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. Genuine Parts's dividend payout ratio is presently 70.91%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GPC. Evercore ISI lowered their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Loop Capital boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Truist Financial boosted their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, UBS Group boosted their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $135.29.

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.