NewEdge Advisors LLC Raises Stake in Genuine Parts Company $GPC

Key Points

• NewEdge Advisors LLC increased its holdings in Genuine Parts Company by 13.4%, acquiring 3,353 additional shares, bringing its total to 28,413 shares valued at approximately $3.4 million.
• The company reported earnings per share of $2.10 for the most recent quarter, beating estimates and showing a revenue increase of 3.4% year-over-year, with a total revenue of $6.16 billion.
• Genuine Parts declared a quarterly dividend of $1.03 per share, reflecting an annual yield of 3.0%, with a payout ratio of 70.91%.

NewEdge Advisors LLC increased its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 13.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,413 shares of the specialty retailer's stock after acquiring an additional 3,353 shares during the quarter. NewEdge Advisors LLC's holdings in Genuine Parts were worth $3,385,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GPC. Rossby Financial LCC bought a new stake in shares of Genuine Parts in the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in Genuine Parts during the 1st quarter valued at $27,000. North Capital Inc. bought a new stake in Genuine Parts during the 1st quarter valued at $28,000. Investors Research Corp increased its stake in Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 125 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Genuine Parts by 7,950.0% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Down 1.0%

Shares of NYSE GPC traded down $1.41 during trading on Friday, hitting $141.36. The stock had a trading volume of 856,705 shares, compared to its average volume of 1,157,335. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29. 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 $19.66 billion, a PE ratio of 24.33 and a beta of 0.75. The firm has a fifty day moving average of $133.70 and a two-hundred day moving average of $125.30.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business's revenue was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's payout ratio is 70.91%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group boosted their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Evercore ISI boosted their price target on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Finally, Loop Capital boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Genuine Parts presently has an average rating of "Moderate Buy" and an average price target of $137.86.

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.