AG2R LA Mondiale Gestion D Actifs Buys New Holdings in Genuine Parts Company $GPC

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in Genuine Parts Company, purchasing 10,090 shares valued at approximately $1.277 million during the first quarter of 2023.
• Equities research analysts have raised their price targets for Genuine Parts, with Loop Capital setting their target at $160.00 and JPMorgan Chase raising it to $145.00, reflecting a positive outlook for the stock.
• The company reported $2.10 EPS for its latest quarter, beating the consensus estimate and indicating a revenue increase of 3.4% year-over-year, with guidance for FY 2025 at 7.500-8.000 EPS.

AG2R LA Mondiale Gestion D Actifs bought a new stake in Genuine Parts Company (NYSE:GPC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,090 shares of the specialty retailer's stock, valued at approximately $1,277,000.

Other large investors have also recently bought and sold shares of the company. Rossby Financial LCC purchased a new stake in Genuine Parts in the first quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new stake in Genuine Parts in the first quarter valued at approximately $27,000. North Capital Inc. purchased a new stake in Genuine Parts in the 1st quarter worth approximately $28,000. Investors Research Corp boosted its position in Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 125 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Loop Capital upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group upped their price objective on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI increased their target price on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Finally, Truist Financial increased their target price on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.86.

Genuine Parts Stock Down 1.0%

NYSE GPC opened at $141.36 on Friday. The business has a fifty day moving average price of $133.70 and a 200 day moving average price of $125.32. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.29. 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 company has a market cap of $19.66 billion, a P/E ratio of 24.33 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the prior year, the company earned $2.44 EPS. The firm's 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. Research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

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