MBB Public Markets I LLC Invests $304,000 in Genuine Parts Company $GPC

Key Points

• MBB Public Markets I LLC has invested $304,000 in Genuine Parts Company by acquiring 2,555 shares during the first quarter of 2023.
• This investment follows significant activity from various institutional investors, with ownership now totaling 78.83% of Genuine Parts' stock.
• Genuine Parts recently reported $2.10 EPS for the last quarter, slightly above analysts' expectations, and announced a quarterly dividend of $1.03 per share.

MBB Public Markets I LLC acquired a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,555 shares of the specialty retailer's stock, valued at approximately $304,000.

Several other institutional investors have also recently made changes to their positions in the business. Cornerstone Wealth Group LLC purchased a new stake in Genuine Parts in the 1st quarter worth approximately $3,344,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Genuine Parts by 11.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer's stock worth $2,657,000 after acquiring an additional 2,290 shares in the last quarter. United Community Bank increased its holdings in Genuine Parts by 4,452.1% in the 1st quarter. United Community Bank now owns 16,251 shares of the specialty retailer's stock worth $1,936,000 after acquiring an additional 15,894 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Genuine Parts in the 1st quarter worth approximately $2,422,000. Finally, Dark Forest Capital Management LP purchased a new stake in Genuine Parts in the 1st quarter worth approximately $5,625,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Up 0.4%

Shares of GPC opened at $139.47 on Thursday. 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 1 year low of $104.01 and a 1 year high of $144.29. The company has a 50 day simple moving average of $133.12 and a two-hundred day simple moving average of $125.03. The firm has a market cap of $19.40 billion, a P/E ratio of 24.00 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (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 business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same period last year, the firm posted $2.44 EPS. The company'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, equities analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Genuine Parts's dividend payout ratio (DPR) is 70.91%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GPC. UBS Group increased their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial boosted their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Evercore ISI boosted their price objective on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Loop Capital boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.

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