Virtu Financial LLC Has $2.14 Million Stock Position in Genuine Parts Company (NYSE:GPC)

Key Points

• Virtu Financial LLC significantly increased its holdings in Genuine Parts Company by 122.9%, acquiring an additional 9,899 shares to bring its total to 17,952 shares worth approximately $2.14 million.
• Genuine Parts Company reported quarterly earnings of $2.10 per share, exceeding analyst expectations and showing a year-over-year revenue increase of 3.4% to $6.16 billion.
• Institutional investors control 78.83% of Genuine Parts' stock, with various firms modifying their positions in the fourth quarter, including noteworthy increases from Baupost Group LLC and Sterling Capital Management LLC.

Virtu Financial LLC boosted its position in Genuine Parts Company (NYSE:GPC - Free Report) by 122.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,952 shares of the specialty retailer's stock after acquiring an additional 9,899 shares during the quarter. Virtu Financial LLC's holdings in Genuine Parts were worth $2,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of 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 during the period. Canada Pension Plan Investment Board raised its position in shares of Genuine Parts by 436.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock worth $3,672,000 after purchasing an additional 25,583 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth approximately $1,320,000. FORA Capital LLC raised its position in shares of Genuine Parts by 410.9% during the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock worth $3,075,000 after purchasing an additional 21,178 shares during the period. Finally, Bastion Asset Management Inc. acquired a new stake in shares of Genuine Parts during the 4th quarter worth approximately $3,391,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Loop Capital increased their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group increased their price target 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 lowered Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Truist Financial increased 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. Finally, Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. One 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.com, the company presently has an average rating of "Hold" and an average target price of $135.29.

Genuine Parts Price Performance

Shares of GPC traded up $1.37 during trading hours on Tuesday, hitting $134.77. 847,037 shares of the company were exchanged, compared to its average volume of 1,314,513. The company has a market capitalization of $18.75 billion, a PE ratio of 23.20 and a beta of 0.75. 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 fifty day simple moving average of $126.25 and a 200-day simple moving average of $122.37. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.49.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 22.41% and a net margin of 3.40%. The company's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $2.44 EPS. As a group, sell-side analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

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

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.