Genuine Parts (NYSE:GPC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in shares of Genuine Parts (NYSE:GPC) by 59.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 199,232 shares of the specialty retailer’s stock after buying an additional 74,607 shares during the quarter. Victory Capital Management Inc.’s holdings in Genuine Parts were worth $27,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Conning Inc. lifted its position in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after acquiring an additional 19,795 shares in the last quarter. WD Rutherford LLC lifted its holdings in Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock valued at $1,037,000 after purchasing an additional 7,252 shares in the last quarter. Comerica Bank boosted its stake in shares of Genuine Parts by 19.6% during the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after purchasing an additional 18,657 shares during the last quarter. Hamlin Capital Management LLC grew its holdings in shares of Genuine Parts by 12.3% during the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after buying an additional 64,520 shares in the last quarter. Finally, Jensen Investment Management Inc. raised its position in shares of Genuine Parts by 13.7% in the third quarter. Jensen Investment Management Inc. now owns 48,430 shares of the specialty retailer’s stock valued at $6,765,000 after buying an additional 5,840 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $122.62 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The firm has a market capitalization of $17.05 billion, a P/E ratio of 15.78 and a beta of 0.92. The business’s 50-day simple moving average is $130.79 and its 200-day simple moving average is $138.31.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the firm earned $2.49 earnings per share. Genuine Parts’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GPC. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average price target of $139.57.

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.