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

XTX Topco Ltd lowered its stake in shares of Genuine Parts (NYSE:GPC) by 51.9% during the second quarter, Holdings Channel reports. The firm owned 3,297 shares of the specialty retailer’s stock after selling 3,558 shares during the period. XTX Topco Ltd’s holdings in Genuine Parts were worth $456,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Optimist Retirement Group LLC boosted its position in shares of Genuine Parts by 3.3% in the 2nd quarter. Optimist Retirement Group LLC now owns 12,464 shares of the specialty retailer’s stock valued at $1,724,000 after purchasing an additional 394 shares during the period. Miramar Capital LLC lifted its stake in Genuine Parts by 0.3% in the second quarter. Miramar Capital LLC now owns 79,957 shares of the specialty retailer’s stock valued at $11,060,000 after buying an additional 223 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Genuine Parts by 8.0% in the second quarter. Blair William & Co. IL now owns 10,624 shares of the specialty retailer’s stock valued at $1,470,000 after acquiring an additional 785 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Genuine Parts by 4.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,498 shares of the specialty retailer’s stock worth $1,311,000 after acquiring an additional 439 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Genuine Parts by 26.9% in the 2nd quarter. Amalgamated Bank now owns 36,809 shares of the specialty retailer’s stock valued at $5,091,000 after acquiring an additional 7,799 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 1.4 %

NYSE GPC opened at $139.66 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $19.45 billion, a P/E ratio of 15.57 and a beta of 0.90. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The firm has a 50-day moving average price of $139.62 and a 200 day moving average price of $145.09.

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

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.86%. Genuine Parts’s payout ratio is currently 44.59%.

Wall Street Analyst Weigh In

GPC has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wedbush lowered their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial restated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. UBS Group decreased their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, Evercore ISI dropped their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Company 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.