XTX Topco Ltd Takes Position in Genuine Parts Company (NYSE:GPC)

Key Points

• XTX Topco Ltd has acquired 25,698 shares of Genuine Parts Company (NYSE:GPC), valued at approximately $3.06 million, during the first quarter.
• Genuine Parts reported a net income of $2.10 EPS for the recent quarter, exceeding analyst expectations and demonstrating a 3.4% increase in revenue year-over-year.
• Institutional investors own 78.83% of Genuine Parts stock, indicating strong interest and confidence in the company among major financial entities.

XTX Topco Ltd bought 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 & Exchange Commission. The institutional investor bought 25,698 shares of the specialty retailer's stock, valued at approximately $3,062,000.

A number of other hedge funds have also recently modified their holdings of GPC. Korea Investment CORP raised its position in shares of Genuine Parts by 38.7% during the 4th quarter. Korea Investment CORP now owns 77,483 shares of the specialty retailer's stock valued at $9,047,000 after buying an additional 21,600 shares during the period. Level Four Advisory Services LLC acquired a new position in Genuine Parts in the fourth quarter valued at $210,000. DnB Asset Management AS lifted its stake in Genuine Parts by 4.0% in the fourth quarter. DnB Asset Management AS now owns 24,509 shares of the specialty retailer's stock valued at $2,862,000 after buying an additional 936 shares during the last quarter. Allstate Corp acquired a new position in shares of Genuine Parts in the fourth quarter valued at approximately $487,000. Finally, Schroder Investment Management Group increased its holdings in shares of Genuine Parts by 13.0% in the fourth quarter. Schroder Investment Management Group now owns 11,105 shares of the specialty retailer's stock valued at $1,286,000 after purchasing an additional 1,274 shares during the period. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded down $1.36 during midday trading on Wednesday, reaching $132.10. The company had a trading volume of 1,975,103 shares, compared to its average volume of 1,139,986. The stock has a market cap of $18.37 billion, a P/E ratio of 22.74 and a beta of 0.74. The company's 50 day moving average price is $125.28 and its 200 day moving average price is $121.46. 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 52-week low of $104.01 and a 52-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 (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The company had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. During the same period last year, the firm earned $2.44 earnings per share. Genuine Parts's quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on GPC. Truist Financial lifted 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 report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, Evercore ISI lowered their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.