Sei Investments Co. Increases Holdings in Genuine Parts Company $GPC

Key Points

• Sei Investments Co. increased its stake in Genuine Parts Company by 15.7% in the first quarter, acquiring an additional 17,025 shares, bringing its total ownership to approximately $14.8 million.
• Genuine Parts reported earnings of $2.10 EPS for the last quarter, exceeding analyst expectations, with revenue reaching $6.16 billion, a 3.4% increase from the previous year.
• The company will pay a quarterly dividend of $1.03 per share on October 2nd, representing a 3.0% dividend yield and a payout ratio of approximately 70.91%.

Sei Investments Co. lifted its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,724 shares of the specialty retailer's stock after acquiring an additional 17,025 shares during the period. Sei Investments Co. owned approximately 0.09% of Genuine Parts worth $14,823,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Genuine Parts in the fourth quarter worth $227,000. Guggenheim Capital LLC raised its position in Genuine Parts by 8.4% during the fourth quarter. Guggenheim Capital LLC now owns 79,171 shares of the specialty retailer's stock valued at $9,244,000 after purchasing an additional 6,157 shares in the last quarter. Insigneo Advisory Services LLC raised its position in Genuine Parts by 21.1% during the fourth quarter. Insigneo Advisory Services LLC now owns 4,395 shares of the specialty retailer's stock valued at $513,000 after purchasing an additional 765 shares in the last quarter. NewEdge Advisors LLC raised its position in Genuine Parts by 5.2% during the fourth quarter. NewEdge Advisors LLC now owns 25,060 shares of the specialty retailer's stock valued at $2,926,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock valued at $3,672,000 after purchasing an additional 25,583 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GPC has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Evercore ISI lowered their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Loop Capital raised their price target on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Truist Financial raised their price target on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, UBS Group raised their price target on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research 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 issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $135.29.

Genuine Parts Trading Down 0.8%

Shares of NYSE GPC traded down $1.1310 during trading hours on Wednesday, hitting $137.6190. The company's stock had a trading volume of 109,230 shares, compared to its average volume of 1,398,614. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 23.71 and a beta of 0.75. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.49. The business has a 50-day simple moving average of $127.45 and a 200-day simple moving average of $123.07.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (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 analysts' expectations 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 firm earned $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 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

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 issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend 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 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.