Russell Investments Group Ltd. Sells 12,695 Shares of Genuine Parts Company $GPC

Key Points

• Russell Investments Group Ltd. reduced its holdings in Genuine Parts Company by 22.4%, selling 12,695 shares and now owns 43,879 shares worth approximately $5.2 million.
• Several institutional investors have adjusted their stakes in Genuine Parts, with Goldman Sachs increasing its holdings by 276.2% to over 3.3 million shares, worth nearly $400 million.
• The company announced a quarterly dividend of $1.03 per share, equating to an annual yield of 3.0%, with the payout scheduled for October 2nd.

Russell Investments Group Ltd. trimmed its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 22.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,879 shares of the specialty retailer's stock after selling 12,695 shares during the period. Russell Investments Group Ltd.'s holdings in Genuine Parts were worth $5,223,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake 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 valued at $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Genuine Parts by 4.1% in the 1st 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 during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Genuine Parts by 22.1% in the 1st 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 during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of 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 purchasing an additional 104,343 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Genuine Parts by 26.5% in the 4th quarter. ProShare Advisors LLC now owns 1,679,256 shares of the specialty retailer's stock valued at $196,070,000 after purchasing an additional 351,863 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GPC has been the subject of several analyst reports. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. raised their price target on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group raised their price target on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial raised their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. 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 issued a Sell rating to the company. According to data from MarketBeat, Genuine Parts presently has an average rating of "Moderate Buy" and an average price target of $135.29.

Genuine Parts Trading Down 0.5%

GPC opened at $136.2450 on Friday. The stock's fifty day moving average is $128.01 and its two-hundred day moving average is $123.31. The company has a market capitalization of $18.95 billion, a P/E ratio of 23.45 and a beta of 0.75. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.49. 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 (NYSE:GPC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $6.16 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Analysts forecast 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. Shareholders of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is presently 70.91%.

Genuine Parts 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.

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