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

A number of other large investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in 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 valued at $399,449,000 after acquiring an additional 2,461,497 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Genuine Parts by 4.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer's stock valued at $358,387,000 after acquiring an additional 119,653 shares during the period. JPMorgan Chase & Co. raised its stake in Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock valued at $327,974,000 after acquiring an additional 498,469 shares during the period. Dimensional Fund Advisors LP raised its stake in Genuine Parts by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer's stock valued at $211,816,000 after acquiring an additional 79,253 shares during the period. Finally, ProShare Advisors LLC raised its stake in Genuine Parts by 26.5% in the 4th quarter. ProShare Advisors LLC now owns 1,679,256 shares of the specialty retailer's stock valued at $196,070,000 after acquiring an additional 351,863 shares during the period. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of GPC traded down $1.52 during trading hours on Monday, hitting $139.77. 94,153 shares of the company were exchanged, compared to its average volume of 1,381,464. The company has a market cap of $19.44 billion, a price-to-earnings ratio of 24.08 and a beta of 0.75. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.29. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm's fifty day moving average is $133.70 and its 200 day moving average is $125.34.

Genuine Parts (NYSE:GPC - Get Free Report) last released 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. The company had revenue of $6.16 billion for 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%.Genuine Parts's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio is 70.91%.

Wall Street Analyst Weigh In

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