Voya Investment Management LLC Has $5.18 Million Position in Genuine Parts Company $GPC

Key Points

• Voya Investment Management LLC reduced its stake in Genuine Parts Company by 20.3% in Q1, selling 11,051 shares, which left them with a total of 43,433 shares valued at $5,175,000.
• Analysts have provided favorable outlooks for Genuine Parts, with several firms raising their price targets, including Evercore ISI from $145.00 to $148.00 and Loop Capital from $155.00 to $160.00.
• Genuine Parts recently reported a Q2 earnings per share of $2.10, exceeding expectations and marking a 3.4% revenue increase year-over-year, with projected FY 2025 guidance set at 7.500-8.000 EPS.

Voya Investment Management LLC lowered its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 20.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,433 shares of the specialty retailer's stock after selling 11,051 shares during the period. Voya Investment Management LLC's holdings in Genuine Parts were worth $5,175,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rossby Financial LCC purchased a new stake in shares of Genuine Parts in the first quarter worth $25,000. Olde Wealth Management LLC purchased a new position in Genuine Parts during the 1st quarter valued at about $27,000. North Capital Inc. purchased a new position in Genuine Parts during the 1st quarter valued at about $28,000. Investors Research Corp boosted its holdings in shares of Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after buying an additional 125 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after buying an additional 318 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.4%

NYSE GPC traded down $0.50 during trading on Friday, reaching $137.41. 1,444,819 shares of the company's stock were exchanged, compared to its average volume of 1,274,655. The firm has a market capitalization of $19.11 billion, a PE ratio of 23.65 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 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 $144.29. The company's fifty day simple moving average is $135.01 and its 200-day simple moving average is $125.84.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same period in the previous year, the company earned $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 predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a $1.03 dividend. 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%.

Wall Street Analyst Weigh In

Several brokerages have commented on GPC. 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 research note on Wednesday, July 23rd. Loop Capital boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. UBS Group increased their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial increased their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI upped their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

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.