Versor Investments LP Cuts Stock Position in Genuine Parts Company $GPC

Key Points

• Versor Investments LP sold 53.2% of its holdings in Genuine Parts Company, reducing its shares to 3,043, valued at approximately $363,000.
• Genuine Parts reported Q2 earnings of $2.10 per share, exceeding expectations and reflecting a 3.4% year-over-year revenue increase to $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share, representing an annual yield of 3.0%, with the payment scheduled for October 2nd.

Versor Investments LP lessened its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 53.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,043 shares of the specialty retailer's stock after selling 3,457 shares during the period. Versor Investments LP's holdings in Genuine Parts were worth $363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Genuine Parts by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after purchasing an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Genuine Parts by 436.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after purchasing an additional 25,583 shares in the last quarter. Parvin Asset Management LLC purchased a new position in shares of Genuine Parts during the fourth quarter valued at approximately $1,320,000. FORA Capital LLC lifted its stake in shares of Genuine Parts by 410.9% during the fourth quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after buying an additional 21,178 shares during the period. Finally, Bastion Asset Management Inc. purchased a new position in shares of Genuine Parts during the fourth quarter valued at approximately $3,391,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Down 0.3%

NYSE:GPC traded down $0.38 during trading hours on Tuesday, reaching $138.87. 859,908 shares of the company were exchanged, 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 firm has a market cap of $19.32 billion, a price-to-earnings ratio of 23.90 and a beta of 0.75. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.44. The stock has a 50 day simple moving average of $129.18 and a 200 day simple moving average of $123.79.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. Genuine Parts's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $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 EPS for the current year.

Genuine Parts Announces Dividend

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 paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GPC shares. UBS Group upped their price objective on shares of 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 upped their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Evercore ISI upped their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Loop Capital upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock 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.