Arkadios Wealth Advisors Increases Stake in Genuine Parts Company (NYSE:GPC)

Key Points

• Arkadios Wealth Advisors increased its stake in Genuine Parts Company (NYSE:GPC) by 268.1%, owning 15,397 shares valued at approximately $1.83 million after acquiring 11,214 additional shares in Q1.
• Several institutional investors also raised their holdings in Genuine Parts, with Wellington Management Group increasing its stake by 30.3% during the fourth quarter.
• Genuine Parts reported a quarterly earnings per share (EPS) of $2.10, beating analysts' estimates, with revenue reaching $6.16 billion, a 3.4% increase year-over-year.

Arkadios Wealth Advisors raised its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 268.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,397 shares of the specialty retailer's stock after buying an additional 11,214 shares during the quarter. Arkadios Wealth Advisors' holdings in Genuine Parts were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in GPC. Schroder Investment Management Group grew its holdings in Genuine Parts by 13.0% during the 4th quarter. Schroder Investment Management Group now owns 11,105 shares of the specialty retailer's stock valued at $1,286,000 after buying an additional 1,274 shares in the last quarter. Wellington Management Group LLP grew its holdings in Genuine Parts by 30.3% during the 4th quarter. Wellington Management Group LLP now owns 29,717 shares of the specialty retailer's stock valued at $3,470,000 after buying an additional 6,916 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Genuine Parts by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 165,453 shares of the specialty retailer's stock valued at $19,318,000 after buying an additional 8,358 shares in the last quarter. Summit Financial LLC purchased a new stake in Genuine Parts during the 4th quarter valued at approximately $286,000. Finally, B. Metzler seel. Sohn & Co. AG grew its holdings in Genuine Parts by 80.4% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 18,170 shares of the specialty retailer's stock valued at $2,122,000 after buying an additional 8,096 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group raised their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial raised their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Evercore ISI cut their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Argus raised shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Finally, Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $135.29.

Genuine Parts Stock Down 2.5%

Shares of GPC opened at $128.78 on Friday. The company has a market cap of $17.91 billion, a PE ratio of 22.16 and a beta of 0.74. The business has a fifty day moving average of $125.32 and a 200 day moving average of $121.55. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $149.22. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. On average, sell-side analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

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.

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