Genuine Parts Company $GPC Shares Sold by Amundi

Key Points

• Amundi reduced its stake in Genuine Parts Company by 23.5%, selling 134,918 shares to hold 438,448 shares valued at approximately $52 million.
• Genuine Parts Company reported $2.10 earnings per share for the last quarter, exceeding analyst expectations with revenue of $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share, representing a 3.0% yield and maintaining a 70.91% dividend payout ratio.

Amundi cut its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 23.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 438,448 shares of the specialty retailer's stock after selling 134,918 shares during the period. Amundi owned approximately 0.32% of Genuine Parts worth $52,035,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rossby Financial LCC purchased a new position in Genuine Parts during the first quarter worth about $25,000. Olde Wealth Management LLC acquired a new stake in shares of Genuine Parts during the first quarter worth about $27,000. North Capital Inc. acquired a new stake in shares of Genuine Parts during the first quarter worth about $28,000. Investors Research Corp lifted its position in shares of Genuine Parts by 75.3% during the first 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 lifted its position in shares of Genuine Parts by 7,950.0% during the first 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.

Analyst Upgrades and Downgrades

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

Genuine Parts Stock Down 1.0%

GPC stock traded down $1.41 during midday trading on Friday, reaching $141.36. 856,705 shares of the company were exchanged, compared to its average volume of 1,157,335. The company has a market cap of $19.66 billion, a price-to-earnings ratio of 24.33 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29. The stock's 50-day simple moving average is $133.70 and its 200 day simple moving average is $125.30.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities 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 announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. Genuine Parts's payout ratio 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.