Resona Asset Management Co. Ltd. Buys 2,276 Shares of Genuine Parts Company $GPC

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Genuine Parts Company by 3.9%, now holding 60,444 shares valued at approximately $7.19 million.
• Genuine Parts reported quarterly earnings of $2.10 EPS, exceeding expectations, with revenues of $6.16 billion, up 3.4% year-over-year.
• The company announced a quarterly dividend of $1.03 per share, representing an annualized yield of 3.0% with a payout ratio of 70.91%.

Resona Asset Management Co. Ltd. raised its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,444 shares of the specialty retailer's stock after purchasing an additional 2,276 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Genuine Parts were worth $7,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of GPC. Pinnacle Associates Ltd. grew its holdings in Genuine Parts by 2.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock valued at $402,000 after buying an additional 93 shares in the last quarter. Strategic Wealth Partners Ltd. increased its stake 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 worth $302,000 after buying an additional 98 shares during the period. Keybank National Association OH boosted its holdings in shares of Genuine Parts by 0.5% during the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock worth $2,486,000 after purchasing an additional 98 shares during the period. Veracity Capital LLC grew its position in shares of Genuine Parts by 4.9% in the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock worth $256,000 after buying an additional 100 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC increased its position in Genuine Parts by 4.7% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock valued at $309,000 after purchasing an additional 118 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

Shares of NYSE:GPC traded up $1.2250 during trading on Tuesday, hitting $138.3650. 166,738 shares of the company's stock were exchanged, compared to its average volume of 1,403,513. The business's 50-day simple moving average is $127.20 and its 200 day simple moving average is $122.96. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.49. The company has a market cap of $19.25 billion, a price-to-earnings ratio of 23.79 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last announced 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 analyst estimates of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The firm's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI reduced their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Loop Capital boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Truist Financial increased their target price on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $135.29.

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.