Genuine Parts Company $GPC Shares Sold by Versor Investments LP

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 trimmed its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 53.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Genuine Parts by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after acquiring an additional 182,965 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Genuine Parts by 436.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after acquiring an additional 25,583 shares during the period. Parvin Asset Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $1,320,000. FORA Capital LLC raised its stake in shares of Genuine Parts by 410.9% in the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after acquiring an additional 21,178 shares during the period. Finally, Bastion Asset Management Inc. purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $3,391,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Up 2.3%

NYSE GPC traded up $3.1690 on Friday, hitting $139.4990. 943,383 shares of the stock were exchanged, compared to its average volume of 1,122,798. 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 Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.49. The company has a market cap of $19.40 billion, a PE ratio of 24.01 and a beta of 0.75. The company has a 50-day moving average price of $128.41 and a 200-day moving average price of $123.49.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The firm's revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Sell-side analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's payout ratio is 70.91%.

Analyst Ratings Changes

GPC has been the subject of a number of research reports. Truist Financial lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective 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. UBS Group lifted their price objective 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. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Finally, Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One equities research 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 issued a Sell rating to the company. Based on data from MarketBeat, Genuine Parts has an average rating of "Moderate Buy" and a consensus target price of $135.29.

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.