Northside Capital Management LLC Invests $464,000 in Genuine Parts Company $GPC

Key Points

• Northside Capital Management LLC has invested approximately $464,000 in Genuine Parts Company, acquiring 3,825 shares during the second quarter.
• Genuine Parts reported a quarterly earnings per share (EPS) of $2.10, exceeding analysts' expectations of $2.08, with revenues of $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share, representing a yield of 3.0% and a dividend payout ratio of 70.91%.

Northside Capital Management LLC acquired a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,825 shares of the specialty retailer's stock, valued at approximately $464,000.

A number of other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 2,461,497 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Genuine Parts by 4.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer's stock valued at $358,387,000 after purchasing an additional 119,653 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Genuine Parts by 22.1% in the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock valued at $327,974,000 after purchasing an additional 498,469 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Genuine Parts by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer's stock worth $211,816,000 after buying an additional 79,253 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Genuine Parts by 3.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,427,507 shares of the specialty retailer's stock worth $170,073,000 after buying an additional 48,139 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $138.40 on Wednesday. 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 debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of 23.82 and a beta of 0.75. The business has a 50-day moving average of $135.61 and a 200-day moving average of $126.00.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations 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 quarter last year, the company posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, sell-side analysts predict that Genuine Parts Company will post 7.9 earnings per share 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. Shareholders of record on Friday, September 5th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts's dividend payout ratio (DPR) is 70.91%.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research 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 research note on Wednesday, July 23rd. Evercore ISI upped their price objective on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday, August 26th. Loop Capital lifted 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, Truist Financial lifted 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Genuine Parts currently has an average rating of "Moderate Buy" and a consensus 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.

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