Hsbc Holdings PLC Decreases Stock Position in Genuine Parts Company $GPC

Key Points

• Hsbc Holdings PLC has reduced its stake in Genuine Parts Company by 6.2%, now holding approximately 0.18% of the company, valued at $29.56 million.
• Genuine Parts reported $2.10 earnings per share for the last quarter, slightly exceeding estimates, and is projecting 7.500-8.000 EPS for FY 2025.
• The company has announced a quarterly dividend of $1.03 per share, with a 3.0% yield, payable on October 2nd to investors of record by September 5th.

Hsbc Holdings PLC lowered its position in Genuine Parts Company (NYSE:GPC - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 248,637 shares of the specialty retailer's stock after selling 16,504 shares during the period. Hsbc Holdings PLC owned 0.18% of Genuine Parts worth $29,555,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Horizon Investments LLC boosted its holdings in Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock worth $238,000 after acquiring an additional 91 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock valued at $402,000 after purchasing an additional 93 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its holdings in shares of Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after purchasing an additional 98 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Genuine Parts by 0.5% in the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after purchasing an additional 98 shares in the last quarter. Finally, Veracity Capital LLC lifted its holdings in shares of Genuine Parts by 4.9% in the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Performance

Shares of GPC traded down $0.94 on Thursday, reaching $138.91. 84,111 shares of the company's stock traded hands, compared to its average volume of 1,382,710. 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 $19.32 billion, a PE ratio of 23.90 and a beta of 0.75. The stock's 50 day simple moving average is $129.60 and its two-hundred day simple moving average is $123.90. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.44.

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

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is presently 70.91%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GPC. Evercore ISI raised their target price on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a report on Tuesday. Loop Capital raised their target price on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Truist Financial raised their target price on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group raised their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. One investment 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average 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.