Victory Capital Management Inc. Has $28.65 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Victory Capital Management Inc. lowered its stake in Genuine Parts (NYSE:GPC) by 20.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 206,845 shares of the specialty retailer’s stock after selling 51,670 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of Genuine Parts worth $28,648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Simmons Bank boosted its holdings in shares of Genuine Parts by 8.1% in the 3rd quarter. Simmons Bank now owns 16,051 shares of the specialty retailer’s stock valued at $2,317,000 after buying an additional 1,208 shares during the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in Genuine Parts in the third quarter valued at $474,000. Gradient Investments LLC grew its position in shares of Genuine Parts by 381.1% in the 3rd quarter. Gradient Investments LLC now owns 587 shares of the specialty retailer’s stock valued at $85,000 after acquiring an additional 465 shares during the period. TIAA Trust National Association acquired a new position in shares of Genuine Parts during the 3rd quarter worth about $356,000. Finally, ING Groep NV raised its holdings in shares of Genuine Parts by 505.3% in the 3rd quarter. ING Groep NV now owns 79,731 shares of the specialty retailer’s stock valued at $11,512,000 after purchasing an additional 66,559 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $154.88 on Wednesday. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The firm has a 50-day moving average price of $153.64 and a two-hundred day moving average price of $143.61. The company has a market capitalization of $21.57 billion, a P/E ratio of 17.27 and a beta of 0.94. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 earnings per share. Analysts anticipate that Genuine Parts will post 9.94 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.58%. Genuine Parts’s dividend payout ratio is 44.59%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial boosted their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group upped their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Wedbush restated a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $173.10.

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.