American Century Companies Inc. Acquires 3,357 Shares of Genuine Parts Company $GPC

Key Points

• American Century Companies Inc. increased its stake in Genuine Parts Company by 6.0%, owning a total of 59,252 shares valued at approximately $7,059,000.
• Goldman Sachs Group Inc. dramatically boosted its position in the company by 276.2%, now holding 3,352,772 shares worth about $399,449,000.
• Genuine Parts announced a quarterly dividend of $1.03 per share, with an annualized yield of 2.9% and a payout ratio of 70.91%.

American Century Companies Inc. grew its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,252 shares of the specialty retailer's stock after purchasing an additional 3,357 shares during the quarter. American Century Companies Inc.'s holdings in Genuine Parts were worth $7,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in 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 worth $399,449,000 after purchasing an additional 2,461,497 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Genuine Parts by 4.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer's stock valued at $358,387,000 after acquiring an additional 119,653 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock valued at $327,974,000 after purchasing an additional 498,469 shares during the period. Ameriprise Financial Inc. increased its position in Genuine Parts by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after buying an additional 104,343 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Genuine Parts by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer's stock worth $211,816,000 after buying an additional 79,253 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on GPC. Evercore ISI raised their target price on Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Loop Capital raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group raised their target price 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. raised their target price 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 raised their target price on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of "Moderate Buy" and an average price target of $137.86.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $0.17 during trading hours on Monday, reaching $139.48. The company had a trading volume of 675,888 shares, compared to its average volume of 960,792. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.44. The business has a fifty day simple moving average of $130.41 and a 200 day simple moving average of $124.18. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. 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 posted 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. 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 during the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the company earned $2.44 earnings per share. The business's revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is presently 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.