Atria Wealth Solutions Inc. Boosts Stake in Genuine Parts Company (NYSE:GPC)

Key Points

• Atria Wealth Solutions Inc. increased its stake in Genuine Parts Company by 30.8%, now owning 13,841 shares valued at approximately $1.66 million.
• Genuine Parts reported $2.10 earnings per share for the last quarter, surpassing expectations and showing a 3.4% year-over-year revenue increase.
• Analysts have mixed ratings on Genuine Parts, with market consensus rating being "Hold" and target prices ranging from $130 to $145.

Atria Wealth Solutions Inc. raised its position in Genuine Parts Company (NYSE:GPC - Free Report) by 30.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,841 shares of the specialty retailer's stock after purchasing an additional 3,259 shares during the period. Atria Wealth Solutions Inc.'s holdings in Genuine Parts were worth $1,663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Genuine Parts by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock worth $198,338,000 after purchasing an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Genuine Parts by 436.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after buying an additional 25,583 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Genuine Parts in the fourth quarter valued at $1,320,000. FORA Capital LLC increased its holdings in shares of Genuine Parts by 410.9% during the fourth quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after purchasing an additional 21,178 shares during the period. Finally, Bastion Asset Management Inc. acquired a new position in Genuine Parts during the fourth quarter worth about $3,391,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on GPC shares. UBS Group raised their price objective on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Truist Financial boosted their price target on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Evercore ISI dropped their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have issued 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, Genuine Parts has an average rating of "Hold" and a consensus price target of $135.29.

Genuine Parts Trading Up 1.0%

Shares of NYSE:GPC traded up $1.37 on Tuesday, reaching $134.77. 847,037 shares of the company traded hands, compared to its average volume of 1,314,513. 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 Company has a 52 week low of $104.01 and a 52 week high of $144.49. The business's 50-day simple moving average is $126.25 and its 200 day simple moving average is $122.37.

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

Genuine Parts Dividend Announcement

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

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.