Quantbot Technologies LP Takes $3.96 Million Position in Genuine Parts (NYSE:GPC)

Quantbot Technologies LP acquired a new stake in Genuine Parts (NYSE:GPC) during the second quarter, Holdings Channel.com reports. The firm acquired 28,635 shares of the specialty retailer’s stock, valued at approximately $3,961,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sierra Summit Advisors LLC raised its holdings in shares of Genuine Parts by 21.2% in the 2nd quarter. Sierra Summit Advisors LLC now owns 3,626 shares of the specialty retailer’s stock valued at $502,000 after purchasing an additional 634 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Genuine Parts by 29.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,037 shares of the specialty retailer’s stock valued at $835,000 after purchasing an additional 1,378 shares in the last quarter. Weik Capital Management raised its holdings in shares of Genuine Parts by 5.7% in the 2nd quarter. Weik Capital Management now owns 7,450 shares of the specialty retailer’s stock valued at $1,030,000 after purchasing an additional 405 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new stake in shares of Genuine Parts in the 2nd quarter valued at $432,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group cut their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Finally, Evercore ISI cut their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

NYSE GPC opened at $137.35 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm has a market cap of $19.13 billion, a PE ratio of 15.31 and a beta of 0.90. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The firm’s fifty day moving average is $139.47 and its two-hundred day moving average is $145.59.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Analysts expect that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.