Genuine Parts Company $GPC Shares Sold by Pensionfund Sabic

Key Points

• Pensionfund Sabic reduced its stake in Genuine Parts Company (GPC) by 21.1%, selling 2,600 shares and retaining 9,700 shares valued at approximately $1.16 million.
• Multiple institutional investors, including Horizon Investments LLC and Pinnacle Associates Ltd., have also increased their positions in Genuine Parts during the same quarter, contributing to a majority of ownership (78.83%) by hedge funds and institutional investors.
• The firm recently announced a quarterly dividend of $1.03 per share, with a yield of 2.9%, part of an annualized dividend payout totaling $4.12.

Pensionfund Sabic cut its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 21.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,700 shares of the specialty retailer's stock after selling 2,600 shares during the period. Pensionfund Sabic's holdings in Genuine Parts were worth $1,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Horizon Investments LLC boosted its position in shares of Genuine Parts by 4.8% in the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock worth $238,000 after buying an additional 91 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Genuine Parts by 2.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after buying an additional 93 shares in the last quarter. Truvestments Capital LLC boosted its position in shares of Genuine Parts by 11.9% in the 1st quarter. Truvestments Capital LLC now owns 895 shares of the specialty retailer's stock worth $107,000 after buying an additional 95 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its position in shares of Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after buying an additional 98 shares in the last quarter. Finally, Keybank National Association OH boosted its position in shares of Genuine Parts by 0.5% in the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock worth $2,486,000 after buying an additional 98 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GPC. Loop Capital boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Evercore ISI boosted their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. 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 report on Wednesday, July 23rd. 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 report 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 report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $137.86.

Genuine Parts Price Performance

NYSE:GPC opened at $141.36 on Friday. The firm has a market cap of $19.66 billion, a price-to-earnings ratio of 24.33 and a beta of 0.75. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. 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 company's 50-day moving average is $133.70 and its two-hundred day moving average is $125.32.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.02. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates 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 was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Research analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm 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 yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio is 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.

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