Gamco Investors INC. ET AL Lowers Holdings in Genuine Parts Company $GPC

Key Points

• Gamco Investors INC. ET AL decreased its holdings in Genuine Parts Company by 7.6%, owning approximately 0.34% of the company valued at $56.32 million after selling 38,724 shares.
• Recent upgrades from analysts include JPMorgan Chase raising the price target from $134.00 to $145.00, with an overall average rating of "Moderate Buy" and a consensus target price of $135.29.
• Genuine Parts reported earnings of $2.10 per share for the quarter, surpassing estimates, alongside a quarterly dividend of $1.03 per share set to be paid on October 2nd.

Gamco Investors INC. ET AL cut its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 472,703 shares of the specialty retailer's stock after selling 38,724 shares during the period. Gamco Investors INC. ET AL owned 0.34% of Genuine Parts worth $56,318,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rossby Financial LCC acquired a new position in shares of Genuine Parts during the first quarter worth $25,000. Olde Wealth Management LLC acquired a new position in shares of Genuine Parts during the first quarter worth $27,000. North Capital Inc. acquired a new position in shares of Genuine Parts during the first quarter worth $28,000. Investors Research Corp increased its position in shares of 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 in the last quarter. Finally, Golden State Wealth Management LLC increased 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 owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of NYSE GPC traded up $0.17 during mid-day trading on Friday, hitting $139.48. The stock had a trading volume of 675,888 shares, compared to its average volume of 1,009,791. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The company has a 50 day moving average of $130.41 and a two-hundred day moving average of $124.18. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.44. The firm has a market cap of $19.40 billion, a PE ratio of 24.01 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last released its 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 return on equity of 22.41% and a net margin of 3.40%.The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the prior year, the firm earned $2.44 EPS. The firm's 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. Research analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a $1.03 dividend. 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 is presently 70.91%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. Loop Capital upped 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. Evercore ISI upped their price target on Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. UBS Group upped 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. JPMorgan Chase & Co. upped their price target on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial upped their target price on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of "Moderate Buy" and a consensus target price of $137.86.

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.