AQR Capital Management LLC Grows Position in 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 boosted its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 61.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,047 shares of the specialty retailer's stock after purchasing an additional 31,762 shares during the period. AQR Capital Management LLC owned approximately 0.06% of Genuine Parts worth $9,846,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GPC. Rossby Financial LCC acquired a new stake in shares of Genuine Parts during the 1st quarter worth $25,000. Olde Wealth Management LLC purchased a new stake in Genuine Parts during the first quarter valued at about $27,000. North Capital Inc. acquired a new stake in Genuine Parts during the first quarter worth about $28,000. Investors Research Corp increased its stake in 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 acquiring an additional 125 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Ratings Changes

GPC has been the subject of a number of research reports. UBS Group boosted their target price on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Evercore ISI boosted their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 26th. Truist Financial increased their price objective 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. Loop Capital lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their price target on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One equities research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Genuine Parts Stock Performance

Genuine Parts stock opened at $139.47 on Thursday. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. 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 company has a market capitalization of $19.40 billion, a price-to-earnings ratio of 24.00 and a beta of 0.75. The firm's fifty day moving average price is $133.12 and its 200 day moving average price is $125.03.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its 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 company 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 firm 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. On average, research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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