Atria Investments Inc Purchases 10,055 Shares of Genuine Parts (NYSE:GPC)

Atria Investments Inc grew its position in Genuine Parts (NYSE:GPC) by 107.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,374 shares of the specialty retailer’s stock after acquiring an additional 10,055 shares during the quarter. Atria Investments Inc’s holdings in Genuine Parts were worth $3,002,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Swedbank AB bought a new stake in shares of Genuine Parts in the 1st quarter worth approximately $18,647,000. Strategic Wealth Partners Ltd. lifted its position in shares of Genuine Parts by 24.7% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 2,157 shares of the specialty retailer’s stock worth $334,000 after acquiring an additional 427 shares during the period. Wahed Invest LLC lifted its position in shares of Genuine Parts by 14.7% in the 1st quarter. Wahed Invest LLC now owns 2,624 shares of the specialty retailer’s stock worth $407,000 after acquiring an additional 336 shares during the period. Citizens Financial Group Inc. RI lifted its position in shares of Genuine Parts by 13.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 3,281 shares of the specialty retailer’s stock worth $512,000 after acquiring an additional 399 shares during the period. Finally, Plato Investment Management Ltd lifted its position in shares of Genuine Parts by 178.4% in the 1st quarter. Plato Investment Management Ltd now owns 1,161 shares of the specialty retailer’s stock worth $180,000 after acquiring an additional 744 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Evercore ISI dropped their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday. Finally, Truist Financial dropped their target price on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

GPC stock traded down $0.96 during midday trading on Friday, reaching $142.52. 1,062,186 shares of the company’s stock traded hands, compared to its average volume of 1,304,695. The company has a 50-day simple moving average of $139.87 and a two-hundred day simple moving average of $146.50. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 15.89 and a beta of 0.92. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 5.24% and a return on equity of 30.03%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 earnings per share. On average, analysts anticipate that Genuine Parts will post 9.36 earnings per share for the current year.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

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.