Neo Ivy Capital Management Buys Shares of 12,432 Genuine Parts Company (NYSE:GPC)

Key Points

• Neo Ivy Capital Management has acquired 12,432 shares of Genuine Parts Company (NYSE:GPC), valued at approximately $1.48 million, as part of their first-quarter holdings.
• Genuine Parts reported solid quarterly earnings of $2.10 EPS, beating analysts' expectations, and a revenue increase of 3.4% year-over-year, totaling $6.16 billion.
• The company announced a quarterly dividend of $1.03, equating to an annualized yield of 3.09% and a dividend payout ratio of 70.91%.

Neo Ivy Capital Management purchased a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,432 shares of the specialty retailer's stock, valued at approximately $1,481,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPC. Assetmark Inc. grew its stake in shares of Genuine Parts by 40.0% during the first quarter. Assetmark Inc. now owns 23,252 shares of the specialty retailer's stock valued at $2,770,000 after buying an additional 6,644 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Genuine Parts by 0.3% during the first quarter. Cetera Investment Advisers now owns 134,251 shares of the specialty retailer's stock valued at $15,995,000 after buying an additional 341 shares during the last quarter. Hamilton Point Investment Advisors LLC grew its stake in shares of Genuine Parts by 0.7% during the first quarter. Hamilton Point Investment Advisors LLC now owns 34,982 shares of the specialty retailer's stock valued at $4,204,000 after buying an additional 247 shares during the last quarter. Lifeworks Advisors LLC grew its stake in shares of Genuine Parts by 8.1% during the first quarter. Lifeworks Advisors LLC now owns 3,395 shares of the specialty retailer's stock valued at $404,000 after buying an additional 254 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after buying an additional 93 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Up 0.0%

GPC traded up $0.04 on Tuesday, hitting $133.11. The company had a trading volume of 267,866 shares, compared to its average volume of 1,422,192. The stock has a fifty day simple moving average of $125.04 and a 200-day simple moving average of $121.30. 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 firm has a market capitalization of $18.51 billion, a P/E ratio of 22.89 and a beta of 0.74. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating 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 return on equity of 22.41% and a net margin of 3.40%. The business's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 EPS. As a group, equities analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GPC has been the topic of several analyst reports. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Truist Financial upped their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. UBS Group upped their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.