Genuine Parts Company $GPC Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in Genuine Parts Company by 276.2% in Q1, now owning approximately 2.42% of the company, valued at about $399 million.
• Genuine Parts reported earnings of $2.10 per share for the last quarter, which exceeded analysts' expectations and indicated a revenue increase of 3.4% year-over-year.
• The company announced a quarterly dividend of $1.03 per share, with a current dividend yield of 2.9%, set to be paid on October 2nd to stockholders of record.

Goldman Sachs Group Inc. grew its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 276.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,352,772 shares of the specialty retailer's stock after buying an additional 2,461,497 shares during the quarter. Goldman Sachs Group Inc. owned 2.42% of Genuine Parts worth $399,449,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rossby Financial LCC purchased a new stake in Genuine Parts during the first quarter worth approximately $25,000. Olde Wealth Management LLC purchased a new position in shares of Genuine Parts in the first quarter valued at $27,000. North Capital Inc. purchased a new position in shares of Genuine Parts in the first quarter valued at $28,000. Investors Research Corp boosted its stake in shares of Genuine Parts by 75.3% in the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 125 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of Genuine Parts by 7,950.0% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 318 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Loop Capital upped their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group upped their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Evercore ISI upped their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial upped their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Genuine Parts Stock Down 1.0%

GPC traded down $1.41 during trading on Friday, hitting $141.36. The company had a trading volume of 856,705 shares, compared to its average volume of 1,135,903. The company has a market cap of $19.66 billion, a PE ratio of 24.33 and a beta of 0.75. The business has a 50-day moving average of $133.70 and a 200-day moving average of $125.34. 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 posted its quarterly 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. The firm had revenue of $6.16 billion for 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 firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. 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.