Maverick Capital Ltd. Buys Shares of 66,432 Genuine Parts Company $GPC

Key Points

• Maverick Capital Ltd. invested approximately $7.92 million in shares of Genuine Parts Company, acquiring 66,432 shares during the first quarter.
• Wall Street analysts have increased their price targets for Genuine Parts Company, with targets ranging from $135 to $160, indicating a generally positive outlook for the stock.
• Genuine Parts Company recently declared a quarterly dividend of $1.03 per share, which represents a 3.0% annual dividend yield.

Maverick Capital Ltd. purchased a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 66,432 shares of the specialty retailer's stock, valued at approximately $7,915,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of Genuine Parts by 276.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock worth $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of Genuine Parts in the 4th quarter worth approximately $94,868,000. JPMorgan Chase & Co. grew its stake in shares of Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock worth $327,974,000 after purchasing an additional 498,469 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Genuine Parts by 20,194.9% in the 1st quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after purchasing an additional 473,975 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Genuine Parts by 79.1% in the 4th quarter. Deutsche Bank AG now owns 895,689 shares of the specialty retailer's stock worth $104,581,000 after purchasing an additional 395,710 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the topic of several recent research reports. 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 note on Tuesday, August 26th. UBS Group lifted their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Loop Capital lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Truist Financial lifted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Genuine Parts has an average rating of "Moderate Buy" and a consensus price target of $137.86.

Genuine Parts Trading Down 1.4%

Shares of Genuine Parts stock traded down $1.93 during trading on Friday, hitting $139.32. The stock had a trading volume of 2,049,930 shares, compared to its average volume of 1,009,480. The stock has a 50 day simple moving average of $132.23 and a 200 day simple moving average of $124.68. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29. The company has a market capitalization of $19.38 billion, a PE ratio of 23.98 and a beta of 0.75. 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 (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. 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. On average, research analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend 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 presently 70.91%.

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.