ASR Vermogensbeheer N.V. Invests $348,000 in Genuine Parts Company (NYSE:GPC)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $348,000 in Genuine Parts Company by acquiring 2,919 shares during the first quarter.
• Goldman Sachs significantly increased its holdings in Genuine Parts by 276.2%, now owning over 3.35 million shares valued at $399.4 million.
• Genuine Parts reported a quarterly EPS of $2.10, exceeding analysts' estimates and showing a 3.4% revenue increase compared to the previous year.

ASR Vermogensbeheer N.V. acquired a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,919 shares of the specialty retailer's stock, valued at approximately $348,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Citizens Financial Group Inc. RI grew its holdings in Genuine Parts by 12.7% in the 1st quarter. Citizens Financial Group Inc. RI now owns 3,762 shares of the specialty retailer's stock valued at $452,000 after buying an additional 425 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock worth $399,449,000 after acquiring an additional 2,461,497 shares during the last quarter. Leisure Capital Management increased its position in Genuine Parts by 14.1% during the first quarter. Leisure Capital Management now owns 8,581 shares of the specialty retailer's stock worth $1,022,000 after acquiring an additional 1,061 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in Genuine Parts by 38.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 533 shares of the specialty retailer's stock worth $64,000 after acquiring an additional 147 shares during the period. Finally, Atria Wealth Solutions Inc. raised its stake in Genuine Parts by 30.8% during the 1st quarter. Atria Wealth Solutions Inc. now owns 13,841 shares of the specialty retailer's stock valued at $1,663,000 after purchasing an additional 3,259 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GPC. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Evercore ISI decreased their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. UBS Group increased their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Truist Financial upped their price objective on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Genuine Parts has a consensus rating of "Hold" and an average target price of $135.29.

Genuine Parts Price Performance

NYSE GPC traded up $1.37 during trading hours on Tuesday, reaching $134.77. 847,037 shares of the stock traded hands, compared to its average volume of 1,314,513. The company has a market cap of $18.75 billion, a price-to-earnings ratio of 23.20 and a beta of 0.75. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.49. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The stock has a 50 day simple moving average of $126.25 and a two-hundred day simple moving average of $122.37.

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

Genuine Parts Dividend Announcement

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

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.