Charles Schwab Investment Management Inc. Acquires 119,653 Shares of Genuine Parts Company (NYSE:GPC)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Genuine Parts Company by 4.1%, acquiring an additional 119,653 shares to own approximately 2.17% of the company, valued at $358,387,000.
• Genuine Parts reported an earnings per share (EPS) of $2.10 for the most recent quarter, surpassing analysts' expectations of $2.08 and achieving a revenue of $6.16 billion.
• Multiple institutional investors have significantly increased their holdings in Genuine Parts, with Goldman Sachs increasing theirs by 276.2% to own over 3.35 million shares, showing strong institutional interest in the company.

Charles Schwab Investment Management Inc. increased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,009,583 shares of the specialty retailer's stock after buying an additional 119,653 shares during the period. Charles Schwab Investment Management Inc. owned 2.17% of Genuine Parts worth $358,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Genuine Parts by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock worth $198,338,000 after buying an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock worth $3,672,000 after buying an additional 25,583 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Genuine Parts during the fourth quarter worth approximately $1,320,000. FORA Capital LLC raised its stake 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 worth $3,075,000 after buying an additional 21,178 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new position in Genuine Parts during the fourth quarter valued at approximately $3,391,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

Genuine Parts stock traded up $0.39 during trading hours on Monday, reaching $133.48. 779,314 shares of the stock were exchanged, compared to its average volume of 1,420,804. The company has a market cap of $18.57 billion, a P/E ratio of 22.97 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.49. The stock has a 50 day moving average of $126.00 and a two-hundred day moving average of $122.17.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data 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. 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 firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $2.44 EPS. Equities analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Analysts Set New Price Targets

GPC has been the subject of a number of analyst reports. Loop Capital boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Evercore ISI dropped 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. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, Truist Financial lifted their target price on shares of 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 assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has an average rating of "Hold" and a consensus target price of $135.29.

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.