Rafferty Asset Management LLC Sells 2,839 Shares of Genuine Parts Company $GPC

Key Points

• Rafferty Asset Management LLC reduced its stakes in Genuine Parts Company by 22.0% in Q1, now owning 10,083 shares valued at approximately $1.2 million.
• Genuine Parts reported $2.10 EPS for the quarter, exceeding the consensus estimate of $2.08, with revenues of $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share, with a dividend yield of 3.0% and a payout ratio of 70.91%.

Rafferty Asset Management LLC lessened its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 22.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,083 shares of the specialty retailer's stock after selling 2,839 shares during the quarter. Rafferty Asset Management LLC's holdings in Genuine Parts were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Integrated Wealth Concepts LLC increased its position in Genuine Parts by 38.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,560 shares of the specialty retailer's stock valued at $299,000 after acquiring an additional 709 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Genuine Parts by 2.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 109,284 shares of the specialty retailer's stock valued at $12,760,000 after acquiring an additional 2,838 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in Genuine Parts by 512.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 34,491 shares of the specialty retailer's stock valued at $4,027,000 after acquiring an additional 28,862 shares in the last quarter. AXA S.A. increased its position in Genuine Parts by 19.6% in the 4th quarter. AXA S.A. now owns 40,031 shares of the specialty retailer's stock valued at $4,674,000 after acquiring an additional 6,565 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Genuine Parts by 5.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock valued at $249,426,000 after acquiring an additional 104,343 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on GPC. Truist Financial raised their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. 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 research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Loop Capital lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Evercore ISI lifted their price target on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.86.

Genuine Parts Trading Down 1.4%

Shares of NYSE:GPC traded down $1.93 during trading on Friday, hitting $139.32. 2,049,930 shares of the company's stock were exchanged, compared to its average volume of 1,009,480. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29. The firm has a 50-day moving average price of $132.23 and a two-hundred day moving average price of $124.70. 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 $19.38 billion, a P/E ratio of 23.98 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter last year, the firm earned $2.44 EPS. Genuine Parts'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. Equities analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend 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 presently 70.91%.

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.