UMB Bank n.a. Sells 3,353 Shares of Genuine Parts Company $GPC

Key Points

• UMB Bank n.a. reduced its stake in Genuine Parts Company by 20.8% during Q2, leaving it with 12,806 shares worth approximately $1.55 million.
• Genuine Parts reported Q2 earnings of $2.10 per share, exceeding analyst expectations and reflecting a 3.4% year-over-year revenue increase with total revenue of $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share, which corresponds to an annual dividend yield of 3.0%.

UMB Bank n.a. reduced its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 20.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,806 shares of the specialty retailer's stock after selling 3,353 shares during the quarter. UMB Bank n.a.'s holdings in Genuine Parts were worth $1,553,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GPC. Goldman Sachs Group Inc. raised its holdings in shares of 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 valued at $399,449,000 after buying an additional 2,461,497 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Genuine Parts by 377.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer's stock valued at $113,233,000 after buying an additional 737,836 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Genuine Parts by 22.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock valued at $327,974,000 after buying an additional 498,469 shares during the period. GAMMA Investing LLC grew its stake in Genuine Parts by 20,194.9% during the 1st quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock valued at $56,749,000 after purchasing an additional 473,975 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Genuine Parts during the 1st quarter valued at approximately $41,646,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of NYSE GPC traded up $0.69 during mid-day trading on Monday, reaching $138.02. The company had a trading volume of 1,437,088 shares, compared to its average volume of 1,299,727. 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 stock has a market cap of $19.20 billion, a PE ratio of 23.75 and a beta of 0.75. The company has a 50-day moving average price of $135.28 and a two-hundred day moving average price of $125.91. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $6.10 billion. During the same quarter last year, the firm 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, 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 of this dividend is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Genuine Parts's payout ratio is currently 70.91%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GPC. UBS Group raised their price objective on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial lifted 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. Evercore ISI boosted their price objective on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. 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. Finally, JPMorgan Chase & Co. lifted 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company 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.