AQR Capital Management LLC Acquires 31,762 Shares of Genuine Parts Company $GPC

Key Points

• AQR Capital Management LLC increased its stake in Genuine Parts Company by 61.9%, bringing its total holdings to approximately 83,047 shares valued at $9.8 million.
• Several hedge funds also adjusted their positions, with significant acquisitions including Golden State Wealth Management LLC, which raised its holdings by an extraordinary 7,950%.
• Genuine Parts reported earnings of $2.10 per share, surpassing expectations, and has set its FY 2025 guidance at EPS between 7.500-8.000.

AQR Capital Management LLC raised its position in Genuine Parts Company (NYSE:GPC - Free Report) by 61.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,047 shares of the specialty retailer's stock after buying an additional 31,762 shares during the quarter. AQR Capital Management LLC owned about 0.06% of Genuine Parts worth $9,846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Wealth Group LLC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at approximately $3,344,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Genuine Parts by 11.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer's stock valued at $2,657,000 after purchasing an additional 2,290 shares during the last quarter. United Community Bank boosted its position in Genuine Parts by 4,452.1% in the first quarter. United Community Bank now owns 16,251 shares of the specialty retailer's stock valued at $1,936,000 after buying an additional 15,894 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Genuine Parts during the first quarter worth $2,422,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Genuine Parts in the first quarter worth $5,625,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Up 0.4%

NYSE:GPC traded up $0.54 during trading hours on Tuesday, reaching $139.58. The company had a trading volume of 1,884,924 shares, compared to its average volume of 1,146,102. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29. 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 firm has a market cap of $19.41 billion, a price-to-earnings ratio of 24.02 and a beta of 0.75. The business's 50-day simple moving average is $134.24 and its two-hundred day simple moving average is $125.53.

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

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a 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%.

Wall Street Analyst Weigh In

GPC has been the topic of several recent research reports. Evercore ISI lifted their target price on Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. UBS Group upped their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Loop Capital raised their price target 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 boosted 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

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.