Adage Capital Partners GP L.L.C. Sells 66,415 Shares of Genuine Parts Company $GPC

Adage Capital Partners GP L.L.C. trimmed its position in Genuine Parts Company (NYSE:GPC - Free Report) by 71.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,900 shares of the specialty retailer's stock after selling 66,415 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Genuine Parts were worth $3,205,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Federation des caisses Desjardins du Quebec lifted its stake in shares of Genuine Parts by 66.0% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 24,243 shares of the specialty retailer's stock valued at $2,888,000 after acquiring an additional 9,641 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Genuine Parts in the 1st quarter valued at $5,625,000. GW Henssler & Associates Ltd. lifted its stake in shares of Genuine Parts by 35.3% in the 1st quarter. GW Henssler & Associates Ltd. now owns 5,857 shares of the specialty retailer's stock valued at $698,000 after acquiring an additional 1,529 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in Genuine Parts in the first quarter valued at $7,915,000. Finally, Flputnam Investment Management Co. increased its holdings in Genuine Parts by 3.5% in the first quarter. Flputnam Investment Management Co. now owns 9,996 shares of the specialty retailer's stock valued at $1,191,000 after purchasing an additional 334 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 1.2%

Shares of GPC traded down $1.67 during trading hours on Friday, hitting $141.11. The stock had a trading volume of 149,430 shares, compared to its average volume of 1,384,816. 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 has a 50 day simple moving average of $133.42 and a 200-day simple moving average of $125.17. The firm has a market capitalization of $19.63 billion, a P/E ratio of 24.29 and a beta of 0.75. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29.

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

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be paid a $1.03 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GPC. Loop Capital increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. UBS Group increased their price objective on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Evercore ISI increased their price objective on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a report on Tuesday, August 26th. Truist Financial increased their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, 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. One 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

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.