DoubleLine ETF Adviser LP Makes New $407,000 Investment in Genuine Parts Company $GPC

Key Points

• DoubleLine ETF Adviser LP has acquired a new stake in Genuine Parts Company, purchasing 3,412 shares valued at approximately $407,000.
• Wall Street analysts have raised their price targets for Genuine Parts, with revisions from firms like UBS and JPMorgan Chase, projecting a consensus target price of $137.86.
• Genuine Parts Company reported a quarterly EPS of $2.10, surpassing estimates, and has announced a dividend of $1.03 to be paid on October 2nd.

DoubleLine ETF Adviser LP purchased a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,412 shares of the specialty retailer's stock, valued at approximately $407,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPC. BNP Paribas Financial Markets grew its position in Genuine Parts by 22.1% in the 4th quarter. BNP Paribas Financial Markets now owns 263,201 shares of the specialty retailer's stock worth $30,731,000 after purchasing an additional 47,557 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Genuine Parts in the 4th quarter worth $7,677,000. Cary Street Partners Financial LLC acquired a new stake in Genuine Parts in the 4th quarter worth $963,000. Captrust Financial Advisors grew its position in Genuine Parts by 1.3% in the 4th quarter. Captrust Financial Advisors now owns 29,920 shares of the specialty retailer's stock worth $3,493,000 after purchasing an additional 379 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in Genuine Parts in the 4th quarter worth $480,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on GPC shares. Evercore ISI lifted their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group lifted their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial lifted their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, 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 research report on Thursday, July 24th. One 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Genuine Parts Price Performance

GPC stock traded down $0.65 during trading on Wednesday, hitting $138.30. 655,940 shares of the stock traded hands, compared to its average volume of 1,386,634. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.29. The stock has a market cap of $19.24 billion, a price-to-earnings ratio of 23.81 and a beta of 0.75. The company has a 50 day simple moving average of $132.88 and a 200 day simple moving average of $124.93. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. 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 firm posted $2.44 EPS. The firm's quarterly 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. Equities analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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 of this dividend is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Genuine Parts's payout ratio is currently 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.