Foster Victor Wealth Advisors LLC Acquires 2,007 Shares of Genuine Parts Company $GPC

Key Points

• Foster Victor Wealth Advisors LLC increased its holdings in Genuine Parts Company by 3.6%, acquiring an additional 2,007 shares in the second quarter, bringing their total to 57,708 shares valued at approximately $7.23 million.
• Several analysts have raised their price targets for Genuine Parts, with JPMorgan lifting theirs from $134 to $145 and Evercore ISI from $145 to $148, reflecting a positive outlook for the company.
• Genuine Parts recently declared a quarterly dividend of $1.03 per share, resulting in an annualized yield of 3.0%, indicating the company's commitment to returning value to shareholders.

Foster Victor Wealth Advisors LLC raised its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,708 shares of the specialty retailer's stock after buying an additional 2,007 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Genuine Parts were worth $7,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vident Advisory LLC increased its holdings in Genuine Parts by 6.1% during the 4th quarter. Vident Advisory LLC now owns 3,874 shares of the specialty retailer's stock worth $452,000 after purchasing an additional 223 shares in the last quarter. Woodline Partners LP bought a new stake in Genuine Parts during the fourth quarter worth $975,000. Jefferies Financial Group Inc. purchased a new stake in Genuine Parts in the 4th quarter valued at $2,428,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Genuine Parts during the 4th quarter valued at $11,755,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in Genuine Parts by 166.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 6,826 shares of the specialty retailer's stock worth $797,000 after acquiring an additional 4,268 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased 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. Evercore ISI boosted their target price on Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 26th. Truist Financial lifted their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group raised their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Loop Capital raised their price objective 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. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.86.

Genuine Parts Trading Up 0.3%

Shares of GPC opened at $138.40 on Wednesday. The firm's 50 day simple moving average is $135.61 and its 200 day simple moving average is $126.00. The company has a market capitalization of $19.25 billion, a P/E ratio of 23.82 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 Company has a 1-year low of $104.01 and a 1-year high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The business had revenue of $6.16 billion during 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%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Sell-side analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal 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 paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts's payout ratio is 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.

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