MBB Public Markets I LLC Takes $304,000 Position 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 purchased 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 fund purchased 2,555 shares of the specialty retailer's stock, valued at approximately $304,000.

Several other hedge funds have also bought and sold shares of the stock. Horizon Investments LLC lifted its stake in Genuine Parts by 4.8% in the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock worth $238,000 after purchasing an additional 91 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in Genuine Parts by 2.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after purchasing an additional 93 shares in the last quarter. Truvestments Capital LLC lifted its stake in Genuine Parts by 11.9% in the 1st quarter. Truvestments Capital LLC now owns 895 shares of the specialty retailer's stock worth $107,000 after purchasing an additional 95 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its stake in Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after purchasing an additional 98 shares in the last quarter. Finally, Keybank National Association OH raised its position in shares of Genuine Parts by 0.5% during the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Up 0.5%

GPC stock traded up $0.64 during mid-day trading on Tuesday, reaching $139.68. The company had a trading volume of 287,942 shares, compared to its average volume of 1,382,811. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The company has a market capitalization of $19.43 billion, a PE ratio of 24.05 and a beta of 0.75. The firm has a 50 day moving average of $133.98 and a 200 day moving average of $125.44. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its 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 business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be paid 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 dividend yield of 2.9%. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GPC shares. JPMorgan Chase & Co. upped their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Evercore ISI upped their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. UBS Group upped their target price 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. Loop Capital upped their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Truist Financial upped their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.