Genuine Parts Company $GPC Shares Acquired by Prudential PLC

Key Points

• Prudential PLC increased its stake in Genuine Parts Company by 101.0% in Q1, owning 4,896 shares valued at $583,000 by the period's end.
• Genuine Parts Company reported $2.10 EPS, exceeding analyst expectations of $2.08, with quarterly revenue increasing by 3.4% year-over-year to $6.16 billion.
• The company announced a quarterly dividend of $1.03, translating to an annualized dividend of $4.12 and a yield of 3.0%, payable on October 2nd.

Prudential PLC lifted its position in Genuine Parts Company (NYSE:GPC - Free Report) by 101.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,896 shares of the specialty retailer's stock after buying an additional 2,460 shares during the quarter. Prudential PLC's holdings in Genuine Parts were worth $583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GPC. Pinnacle Associates Ltd. lifted its position in shares of Genuine Parts by 2.8% during the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after purchasing an additional 93 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its position in Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after buying an additional 98 shares during the period. Keybank National Association OH grew its stake in shares of Genuine Parts by 0.5% in the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock worth $2,486,000 after acquiring an additional 98 shares in the last quarter. Veracity Capital LLC grew its stake in shares of Genuine Parts by 4.9% in the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock worth $256,000 after acquiring an additional 100 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC increased its position in shares of Genuine Parts by 4.7% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock worth $309,000 after acquiring an additional 118 shares during the period. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Down 0.4%

GPC traded down $0.49 during midday trading on Monday, hitting $137.31. The company's stock had a trading volume of 1,250,557 shares, compared to its average volume of 1,339,556. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.49. The firm has a 50-day moving average price of $127.20 and a two-hundred day moving average price of $122.96. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a market cap of $19.10 billion, a P/E ratio of 23.63 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates 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 for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.44 earnings per share. On average, research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GPC shares. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Loop Capital boosted their price target 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. UBS Group raised their price objective 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. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, Evercore ISI cut their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts has an average rating of "Hold" and a consensus price target of $135.29.

Genuine Parts Company 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.