Pallas Capital Advisors LLC Takes $315,000 Position in Genuine Parts Company $GPC

Key Points

• Pallas Capital Advisors LLC has acquired a new position in Genuine Parts Company, purchasing 2,600 shares valued at approximately $315,000.
• Genuine Parts recently reported quarterly earnings of $2.10 per share, exceeding expectations and showing a 3.4% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.03 per share, representing an annualized dividend yield of 3.0%.

Pallas Capital Advisors LLC purchased a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,600 shares of the specialty retailer's stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Goldman Sachs Group Inc. lifted its stake in Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer's stock worth $399,449,000 after purchasing an additional 2,461,497 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock worth $327,974,000 after buying an additional 498,469 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Genuine Parts by 20,194.9% during the first quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after buying an additional 473,975 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Genuine Parts during the first quarter worth approximately $41,646,000. Finally, Pzena Investment Management LLC acquired a new stake in shares of Genuine Parts during the first quarter worth approximately $35,860,000. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GPC. JPMorgan Chase & Co. raised their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Loop Capital raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Evercore ISI raised their price objective on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Truist Financial raised their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, UBS Group raised their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $137.86.

Genuine Parts Trading Up 0.5%

GPC traded up $0.69 during trading on Monday, reaching $138.02. 1,437,088 shares of the company's stock were exchanged, compared to its average volume of 1,299,727. The company's fifty day moving average price is $135.28 and its 200-day moving average price is $125.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.29. The firm has a market capitalization of $19.20 billion, a PE ratio of 23.75 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last released 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. 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 previous year, the business earned $2.44 EPS. The business's quarterly 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 analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued 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 currently 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.