Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Holdings in Genuine Parts Company $GPC

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Genuine Parts Company by 23.3%, selling 7,400 shares and holding a total of 24,340 shares worth approximately $2.9 million at the end of the most recent quarter.
• Genuine Parts reported $2.10 earnings per share in its latest earnings release, exceeding analysts' expectations of $2.08, with quarterly revenue of $6.16 billion.
• The company declared a quarterly dividend of $1.03, resulting in an annualized dividend yield of 3.0%, with a payout ratio of 70.91%.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,340 shares of the specialty retailer's stock after selling 7,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Genuine Parts were worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rossby Financial LCC acquired a new stake in shares of Genuine Parts in the first quarter valued at $25,000. Olde Wealth Management LLC purchased a new position in Genuine Parts during the 1st quarter valued at about $27,000. North Capital Inc. acquired a new position in Genuine Parts in the 1st quarter valued at 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 purchasing an additional 125 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in shares of Genuine Parts by 7,950.0% during the first 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 in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on GPC. JPMorgan Chase & Co. lifted their price objective 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. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Truist Financial upped their price objective on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Evercore ISI decreased their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, UBS Group boosted their target price on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. One 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 stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of "Moderate Buy" and an average price target of $135.29.

Genuine Parts Stock Performance

Shares of GPC stock traded down $0.6840 during mid-day trading on Thursday, hitting $136.3060. 287,651 shares of the stock were exchanged, compared to its average volume of 1,394,828. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 23.47 and a beta of 0.75. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.49. The stock's fifty day simple moving average is $127.72 and its two-hundred day simple moving average is $123.17. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

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