APG Asset Management N.V. Sells 6,400 Shares of Genuine Parts Company $GPC

Key Points

• APG Asset Management N.V. sold 6,400 shares of Genuine Parts Company, reducing its stake by 6.3% in the first quarter, leaving it with 94,800 shares valued at approximately $10.46 million.
• Several analysts have raised their target prices for Genuine Parts, with Truist Financial setting a new target of $143.00 and JPMorgan Chase & Co. at $145.00, reflecting a positive outlook on the stock.
• Genuine Parts recently announced a quarterly dividend of $1.03 per share, yielding 3.0%, with the dividend payout ratio currently at 70.91%.

APG Asset Management N.V. decreased its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,800 shares of the specialty retailer's stock after selling 6,400 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Genuine Parts worth $10,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Horizon Investments LLC lifted its stake in 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 acquiring an additional 91 shares during the period. Pinnacle Associates Ltd. lifted its stake in Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after acquiring an additional 93 shares during the period. Strategic Wealth Partners Ltd. lifted its stake in Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after acquiring an additional 98 shares during the period. Keybank National Association OH lifted its stake in Genuine Parts by 0.5% in the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock worth $2,486,000 after acquiring an additional 98 shares during the period. Finally, Veracity Capital LLC lifted its stake in Genuine Parts by 4.9% in the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock worth $256,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Ratings Changes

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

Genuine Parts Stock Up 0.1%

Shares of NYSE:GPC traded up $0.17 on Friday, hitting $139.48. 675,888 shares of the company traded hands, compared to its average volume of 960,792. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.44. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The stock has a 50 day simple moving average of $130.41 and a 200-day simple moving average of $124.18. The company has a market cap of $19.40 billion, a PE ratio of 24.01 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share 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 last year, the company earned $2.44 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is presently 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.