Raymond James Financial Inc. Trims Stock Holdings in Genuine Parts Company $GPC

Key Points

• Raymond James Financial Inc. has reduced its stake in Genuine Parts Company (NYSE:GPC) by 1.9%, now holding about 0.35% of the company valued at approximately $57.47 million.
• Genuine Parts reported a quarterly earnings per share (EPS) of $2.10, surpassing analysts' expectations, with a revenue of $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share, reflecting an annual dividend yield of 3.0% and a payout ratio of 70.91%.

Raymond James Financial Inc. lowered its position in Genuine Parts Company (NYSE:GPC - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 482,352 shares of the specialty retailer's stock after selling 9,312 shares during the quarter. Raymond James Financial Inc. owned approximately 0.35% of Genuine Parts worth $57,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. Rossby Financial LCC purchased a new stake in Genuine Parts in the first quarter valued at approximately $25,000. Olde Wealth Management LLC acquired a new position in shares of Genuine Parts in the first quarter valued at approximately $27,000. North Capital Inc. acquired a new position in shares of Genuine Parts in the first quarter valued at approximately $28,000. Investors Research Corp increased its holdings 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 increased its holdings 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. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Genuine Parts stock traded down $0.38 during trading hours on Tuesday, hitting $138.87. The stock had a trading volume of 859,908 shares, compared to its average volume of 1,108,765. 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 stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 23.90 and a beta of 0.75. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.44. The stock's fifty day moving average is $129.18 and its two-hundred day moving average is $123.79.

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 the consensus estimate of $2.08 by $0.02. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. 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, analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company 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 $1.03 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts's dividend payout ratio is 70.91%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GPC. Loop Capital boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Evercore ISI boosted their target price on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a report on Tuesday. 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 report on Wednesday, July 23rd. UBS Group boosted their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Truist Financial boosted their target price on 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 issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.