Korea Investment CORP Sells 25,700 Shares of Genuine Parts Company $GPC

Key Points

• Korea Investment CORP has reduced its stake in Genuine Parts Company (NYSE:GPC) by 33.2%, now holding 51,783 shares valued at approximately $6.17 million after selling 25,700 shares.
• Genuine Parts recently announced a quarterly dividend of $1.03 per share, with a yield of 3.0%, payable on October 2nd to stockholders of record.
• The company's recent earnings report showed an EPS of $2.10, surpassing analysts' expectations, and projected a future EPS guidance of 7.500-8.000 for FY 2025.

Korea Investment CORP reduced its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,783 shares of the specialty retailer's stock after selling 25,700 shares during the quarter. Korea Investment CORP's holdings in Genuine Parts were worth $6,169,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. First Trust Advisors LP lifted its stake in Genuine Parts by 17.3% during the fourth quarter. First Trust Advisors LP now owns 174,218 shares of the specialty retailer's stock worth $20,342,000 after purchasing an additional 25,726 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $289,000. MetLife Investment Management LLC raised its stake in shares of Genuine Parts by 1.6% in the fourth quarter. MetLife Investment Management LLC now owns 36,797 shares of the specialty retailer's stock valued at $4,296,000 after acquiring an additional 579 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Genuine Parts by 114.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,135 shares of the specialty retailer's stock valued at $1,067,000 after acquiring an additional 4,870 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Genuine Parts by 11.3% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,911 shares of the specialty retailer's stock valued at $340,000 after acquiring an additional 296 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.9%

GPC traded down $1.26 during trading on Thursday, hitting $138.59. The company had a trading volume of 66,287 shares, compared to its average volume of 1,382,643. The company has a market capitalization of $19.28 billion, a PE ratio of 23.85 and a beta of 0.75. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.44. The firm's 50-day moving average price is $129.60 and its 200 day moving average price is $123.90. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating the consensus estimate of $2.08 by $0.02. The business 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 revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be given 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 payout ratio is currently 70.91%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Truist Financial lifted 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. UBS Group lifted 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. Finally, Loop Capital lifted 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has a consensus 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.