Goldman Sachs Group Inc. Grows Position in Genuine Parts Company $GPC

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. raised its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 276.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,352,772 shares of the specialty retailer's stock after acquiring an additional 2,461,497 shares during the period. Goldman Sachs Group Inc. owned about 2.42% of Genuine Parts worth $399,449,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GPC. Fiduciary Trust Co increased its position in shares of Genuine Parts by 22.4% during the 4th quarter. Fiduciary Trust Co now owns 2,944 shares of the specialty retailer's stock valued at $344,000 after purchasing an additional 538 shares during the last quarter. Ensign Peak Advisors Inc increased its position in shares of Genuine Parts by 16.4% during the 4th quarter. Ensign Peak Advisors Inc now owns 52,487 shares of the specialty retailer's stock valued at $6,128,000 after purchasing an additional 7,397 shares during the last quarter. Focus Partners Wealth increased its holdings in Genuine Parts by 4.9% in the 4th quarter. Focus Partners Wealth now owns 55,878 shares of the specialty retailer's stock worth $6,524,000 after acquiring an additional 2,634 shares during the last quarter. Gotham Asset Management LLC increased its holdings in Genuine Parts by 54.3% in the 4th quarter. Gotham Asset Management LLC now owns 45,319 shares of the specialty retailer's stock worth $5,291,000 after acquiring an additional 15,944 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Genuine Parts in the 4th quarter worth about $2,428,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

GPC stock traded down $1.41 during trading on Friday, reaching $141.36. The stock had a trading volume of 856,705 shares, compared to its average volume of 1,388,976. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The stock's 50 day moving average is $133.42 and its two-hundred day moving average is $125.17. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a market cap of $19.66 billion, a PE ratio of 24.33 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion for 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%.Genuine Parts's revenue was up 3.4% on a year-over-year basis. During the same quarter 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. As a group, equities analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be given a $1.03 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. Genuine Parts's dividend payout ratio is presently 70.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price objective 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 lifted their price target on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Loop Capital boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI boosted their target price on Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. One 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $137.86.

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.