Aberdeen Group plc Trims Holdings in Genuine Parts Company $GPC

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 decreased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 59.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,386 shares of the specialty retailer's stock after selling 120,994 shares during the period. Aberdeen Group plc owned 0.06% of Genuine Parts worth $9,732,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GPC. Dimensional Fund Advisors LP boosted its holdings in shares of Genuine Parts by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer's stock worth $211,816,000 after buying an additional 79,253 shares during the last quarter. Horizon Investments LLC raised its holdings in shares of Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock worth $238,000 after buying an additional 91 shares during the period. Sei Investments Co. boosted its stake in shares of Genuine Parts by 15.7% during the first quarter. Sei Investments Co. now owns 125,724 shares of the specialty retailer's stock valued at $14,823,000 after purchasing an additional 17,025 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Genuine Parts by 19.2% during the first quarter. Kovitz Investment Group Partners LLC now owns 33,710 shares of the specialty retailer's stock valued at $4,016,000 after acquiring an additional 5,418 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Genuine Parts by 8.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,236 shares of the specialty retailer's stock valued at $624,000 after purchasing an additional 423 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent research reports. Loop Capital boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Truist Financial increased their target price on Genuine Parts from $137.00 to $143.00 and gave the company 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 company an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group increased their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $135.29.

Genuine Parts Price Performance

Shares of GPC stock traded down $0.0870 during midday trading on Monday, reaching $139.4130. 791,776 shares of the company traded hands, compared to its average volume of 1,128,814. The firm has a market cap of $19.39 billion, a PE ratio of 24.00 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The firm's 50 day simple moving average is $128.79 and its two-hundred day simple moving average is $123.68. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.49.

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

Genuine Parts Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is 70.91%.

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.