Genuine Parts Company $GPC Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A significantly reduced its stake in Genuine Parts Company by 70.4% during the first quarter, now holding 13,299 shares valued at $1.58 million.
• Genuine Parts reported $2.10 EPS for its last quarter, surpassing analysts' expectations, with revenue of $6.16 billion, a 3.4% year-over-year increase.
• Genuine Parts declared a quarterly dividend of $1.03 per share, reflecting an annualized yield of 3.0% with a payout ratio of 70.91%.

Credit Agricole S A lessened its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 70.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,299 shares of the specialty retailer's stock after selling 31,661 shares during the period. Credit Agricole S A's holdings in Genuine Parts were worth $1,584,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Parvin Asset Management LLC bought a new position in shares of Genuine Parts in the 4th quarter worth approximately $1,320,000. FORA Capital LLC lifted its stake in shares of Genuine Parts by 410.9% in the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock worth $3,075,000 after purchasing an additional 21,178 shares during the period. Bastion Asset Management Inc. bought a new position in shares of Genuine Parts in the 4th quarter worth approximately $3,391,000. Cornerstone Wealth Group LLC bought a new position in shares of Genuine Parts in the 1st quarter worth approximately $3,344,000. Finally, Bayesian Capital Management LP bought a new position in shares of Genuine Parts in the 4th quarter worth approximately $2,078,000. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GPC shares. JPMorgan Chase & Co. raised their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Evercore ISI increased their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a report on Tuesday. UBS Group raised their price target on 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 raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. 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 research note on Wednesday, July 23rd. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Genuine Parts currently has an average rating of "Moderate Buy" and an average price target of $137.86.

Genuine Parts Stock Down 0.2%

NYSE:GPC traded down $0.25 during mid-day trading on Friday, reaching $139.07. The company's stock had a trading volume of 210,233 shares, compared to its average volume of 1,379,722. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.44. The stock has a fifty day moving average of $130.02 and a 200-day moving average of $124.05. The firm has a market capitalization of $19.34 billion, a PE ratio of 23.92 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

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 for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Equities research analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio is presently 70.91%.

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.