Old Port Advisors Grows Holdings in Genuine Parts Company $GPC

Key Points

• Old Port Advisors increased its holdings in Genuine Parts Company by 15.7% during the 2nd quarter, bringing their total shares to 14,930 valued at $1.8 million.
• Analysts have raised their price targets for Genuine Parts, with a consensus rating of “Moderate Buy” and an average price target of $137.86.
• Genuine Parts announced a quarterly dividend of $1.03 per share, equating to an annualized yield of 3.0%, with the ex-dividend date set for September 5th.

Old Port Advisors increased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,930 shares of the specialty retailer's stock after buying an additional 2,031 shares during the period. Old Port Advisors' holdings in Genuine Parts were worth $1,811,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new stake in Genuine Parts during the 1st quarter worth approximately $25,000. Olde Wealth Management LLC purchased a new stake in Genuine Parts during the 1st quarter worth approximately $27,000. North Capital Inc. purchased a new stake in Genuine Parts during the 1st quarter worth approximately $28,000. Investors Research Corp grew its holdings in Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 125 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after buying an additional 318 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. UBS Group increased their price objective 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 increased their price objective 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. 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 research note on Wednesday, July 23rd. Finally, Loop Capital increased their price objective 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 assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Genuine Parts has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Genuine Parts Trading Up 1.1%

Shares of GPC stock opened at $137.80 on Friday. The stock has a market cap of $19.17 billion, a price-to-earnings ratio of 23.72 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.29. The firm's 50 day moving average price is $136.48 and its two-hundred day moving average price is $126.23.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. Genuine Parts's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

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

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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