Genuine Parts Company $GPC Shares Purchased by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec increased its holdings in Genuine Parts Company ($GPC) by 66.0%, acquiring an additional 9,641 shares, bringing its total to 24,243 shares worth $2.888 million.
• Genuine Parts reported $2.10 earnings per share (EPS) for its last quarter, exceeding estimates and showing a 3.4% increase in revenue year-over-year.
• The company has declared a quarterly dividend of $1.03 per share, resulting in a dividend yield of 3.0%.

Federation des caisses Desjardins du Quebec boosted its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 66.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,243 shares of the specialty retailer's stock after purchasing an additional 9,641 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Genuine Parts were worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. FORA Capital LLC boosted its position in Genuine Parts by 410.9% during the fourth quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after purchasing an additional 21,178 shares in the last quarter. Cornerstone Wealth Group LLC bought a new stake in Genuine Parts during the first quarter valued at about $3,344,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Genuine Parts by 11.4% during the first 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 in the last quarter. United Community Bank boosted its position in Genuine Parts by 4,452.1% during the first quarter. United Community Bank now owns 16,251 shares of the specialty retailer's stock valued at $1,936,000 after purchasing an additional 15,894 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Genuine Parts during the first quarter valued at about $2,422,000. Institutional investors own 78.83% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GPC shares. Truist Financial raised their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Loop Capital increased their price target on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. 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 research note on Wednesday, July 23rd. Evercore ISI increased their price target on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Finally, UBS Group increased their price target on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.86.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded up $0.37 during trading on Wednesday, hitting $139.32. The stock had a trading volume of 938,176 shares, compared to its average volume of 1,387,695. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 23.98 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. The stock has a 50-day simple moving average of $132.88 and a two-hundred day simple moving average of $124.93.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. During the same period last year, the business posted $2.44 earnings per share. The company'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. On average, equities research analysts expect that Genuine Parts Company will post 7.9 earnings per share 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. Investors of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend 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%.

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.