Baird Financial Group Inc. Has $19.47 Million Position in Genuine Parts Company $GPC

Key Points

• Baird Financial Group Inc. increased its stake in Genuine Parts Company by 2.4% during the first quarter, owning approximately 0.12% of the company valued at $19.47 million.
• Genuine Parts Company reported a net margin of 3.40% and earnings per share of $2.10 for the quarter, surpassing the consensus estimate.
• The company declared a quarterly dividend of $1.03 per share, representing a 3.0% dividend yield, with a payout ratio of 70.91%.

Baird Financial Group Inc. lifted its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,385 shares of the specialty retailer's stock after purchasing an additional 3,794 shares during the quarter. Baird Financial Group Inc. owned 0.12% of Genuine Parts worth $19,466,000 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 GPC. Goldman Sachs Group Inc. grew its holdings in shares of Genuine Parts by 276.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Junto Capital Management LP bought a new stake in Genuine Parts during the 4th quarter worth approximately $94,868,000. JPMorgan Chase & Co. grew its holdings in Genuine Parts by 22.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock worth $327,974,000 after acquiring an additional 498,469 shares during the last quarter. GAMMA Investing LLC grew its holdings in Genuine Parts by 20,194.9% during the 1st quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after acquiring an additional 473,975 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Genuine Parts by 79.1% during the 4th quarter. Deutsche Bank AG now owns 895,689 shares of the specialty retailer's stock worth $104,581,000 after acquiring an additional 395,710 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Down 1.4%

Shares of NYSE GPC traded down $1.93 during midday trading on Friday, reaching $139.32. The stock had a trading volume of 2,049,930 shares, compared to its average volume of 1,009,480. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 23.98 and a beta of 0.75. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29. 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's 50 day moving average price is $132.23 and its 200 day moving average price is $124.68.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. 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. As a group, sell-side analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

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 given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's payout ratio is presently 70.91%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GPC shares. Loop Capital boosted their target price 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. Evercore ISI boosted their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Truist Financial boosted their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, UBS Group boosted their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, Genuine Parts currently has an average rating of "Moderate Buy" and an average price target of $137.86.

Genuine Parts 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.