Voya Investment Management LLC Decreases Stock Holdings 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 cut its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,433 shares of the specialty retailer's stock after selling 11,051 shares during the quarter. 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 made changes to their positions in the company. Rossby Financial LCC bought a new stake in Genuine Parts in the first quarter worth $25,000. Olde Wealth Management LLC bought a new position in shares of Genuine Parts during the 1st quarter worth approximately $27,000. North Capital Inc. bought a new stake in shares of Genuine Parts in the 1st quarter worth about $28,000. Investors Research Corp increased its holdings in shares of Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after buying an additional 125 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after acquiring an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Up 0.5%

GPC traded up $0.69 during mid-day trading on Monday, reaching $138.02. 1,437,088 shares of the stock were exchanged, compared to its average volume of 1,299,727. The company has a 50 day moving average price of $135.28 and a two-hundred day moving average price of $125.91. The stock has a market capitalization of $19.20 billion, a PE ratio of 23.75 and a beta of 0.75. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14.

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 analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Loop Capital boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. 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 research report on Wednesday, July 23rd. Evercore ISI lifted their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their price target on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Truist Financial increased their target price 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. One investment 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 a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

Genuine Parts 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.