Cinctive Capital Management LP Lowers Holdings in Genuine Parts Company $GPC

Key Points

• Cinctive Capital Management LP has decreased its stake in Genuine Parts Company by 71.4%, selling 55,224 shares, leaving them with a total of 22,114 shares valued at approximately $2.64 million.
• Genuine Parts reported earnings of $2.10 per share for the last quarter, exceeding analysts' expectations, and it has raised its FY 2025 earnings guidance to 7.500-8.000 EPS.
• The company has declared a quarterly dividend of $1.03 per share, offering an annualized yield of 2.9% with a payout ratio of 70.91%.

Cinctive Capital Management LP lessened its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 71.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,114 shares of the specialty retailer's stock after selling 55,224 shares during the quarter. Cinctive Capital Management LP's holdings in Genuine Parts were worth $2,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock worth $399,449,000 after purchasing an additional 2,461,497 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Genuine Parts by 4.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer's stock worth $358,387,000 after purchasing an additional 119,653 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock worth $327,974,000 after purchasing an additional 498,469 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Genuine Parts by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer's stock worth $211,816,000 after purchasing an additional 79,253 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Genuine Parts by 26.5% during the fourth quarter. ProShare Advisors LLC now owns 1,679,256 shares of the specialty retailer's stock worth $196,070,000 after purchasing an additional 351,863 shares during the period. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded down $0.06 on Wednesday, reaching $138.90. 616,281 shares of the company traded hands, compared to its average volume of 1,386,197. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company has a 50 day moving average of $132.88 and a 200 day moving average of $124.93. The firm has a market capitalization of $19.32 billion, a PE ratio of 23.92 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating 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%. Genuine Parts's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Equities analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GPC shares. Evercore ISI lifted 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. Loop Capital lifted 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. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. UBS Group boosted their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Truist Financial boosted their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given 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 price target of $137.86.

About Genuine Parts

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.