NorthRock Partners LLC Buys Shares of 3,480 Genuine Parts Company (NYSE:GPC)

Key Points

• NorthRock Partners LLC has acquired 3,480 shares of Genuine Parts Company, valued at approximately $416,000, during the first quarter.
• Genuine Parts Company reported earnings of $2.10 per share, exceeding expectations, with quarterly revenue reaching $6.16 billion, a year-over-year increase of 3.4%.
• Institutional ownership of Genuine Parts is high, with 78.83% of the stock being held by institutional investors, highlighting strong confidence in the company.

NorthRock Partners LLC purchased a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,480 shares of the specialty retailer's stock, valued at approximately $416,000.

A number of other institutional investors also recently modified their holdings of GPC. Junto Capital Management LP acquired a new position in Genuine Parts in the fourth quarter valued at $94,868,000. Alyeska Investment Group L.P. lifted its stake in shares of Genuine Parts by 204.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock valued at $92,129,000 after purchasing an additional 530,057 shares during the period. Invesco Ltd. boosted its position in shares of Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after purchasing an additional 518,851 shares in the last quarter. GAMMA Investing LLC grew its stake in Genuine Parts by 20,194.9% during the first quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after purchasing an additional 473,975 shares during the period. Finally, Stifel Financial Corp increased its holdings in Genuine Parts by 21.6% in the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after purchasing an additional 445,259 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $128.78 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The firm's 50-day simple moving average is $125.32 and its 200 day simple moving average is $121.55. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of 22.16 and a beta of 0.74. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last posted 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 company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. As a group, research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GPC. Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Truist Financial raised their price target 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. Loop Capital lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, UBS Group boosted their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $135.29.

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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