Genuine Parts Company $GPC Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc has significantly reduced its position in Genuine Parts Company, owning 82,386 shares worth approximately $9.73 million after selling 120,994 shares during the first quarter, representing a 59.5% decrease.
• Genuine Parts Company reported earnings of $2.10 per share for the last quarter, exceeding estimates, and had a revenue of $6.16 billion, up 3.4% year-over-year.
• The company has declared a quarterly dividend of $1.03, which corresponds to an annualized yield of 3.0% with a payout ratio of 70.91%.

Aberdeen Group plc reduced its position in Genuine Parts Company (NYSE:GPC - Free Report) by 59.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,386 shares of the specialty retailer's stock after selling 120,994 shares during the quarter. Aberdeen Group plc owned about 0.06% of Genuine Parts worth $9,732,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GPC. Rossby Financial LCC acquired a new stake in shares of Genuine Parts in the first quarter valued at approximately $25,000. Olde Wealth Management LLC acquired a new stake in shares of Genuine Parts in the first quarter valued at approximately $27,000. North Capital Inc. acquired a new stake in shares of Genuine Parts in the first quarter valued at approximately $28,000. Investors Research Corp boosted its holdings in shares of Genuine Parts by 75.3% in the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 125 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Genuine Parts by 7,950.0% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after acquiring an additional 318 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GPC shares. Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Truist Financial increased their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group increased their price target on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Genuine Parts currently has a consensus rating of "Moderate Buy" and an average target price of $135.29.

Genuine Parts Price Performance

Genuine Parts stock traded up $3.1690 during midday trading on Friday, reaching $139.4990. The company's stock had a trading volume of 943,383 shares, compared to its average volume of 1,122,798. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.49. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The stock's 50 day simple moving average is $128.41 and its 200 day simple moving average is $123.46. The firm has a market capitalization of $19.40 billion, a PE ratio of 24.01 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the company earned $2.44 earnings per share. Genuine Parts's quarterly revenue was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities research analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's payout ratio is 70.91%.

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.