Semmax Financial Advisors Inc. Purchases 2,482 Shares of Genuine Parts Company $GPC

Key Points

• Semmax Financial Advisors Inc. increased its stake in Genuine Parts Company by 8.7% during Q1, acquiring an additional 2,482 shares, bringing its total holdings to 30,910 shares valued at approximately $3.63 million.
• Analysts have raised their target prices for Genuine Parts, with JPMorgan Chase & Co. setting a new target at $145.00, while the average price target across analysts is $137.86.
• Genuine Parts announced a quarterly dividend of $1.03 per share, representing a 2.9% dividend yield based on an annualized figure of $4.12.

Semmax Financial Advisors Inc. increased its position in Genuine Parts Company (NYSE:GPC - Free Report) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,910 shares of the specialty retailer's stock after buying an additional 2,482 shares during the period. Semmax Financial Advisors Inc.'s holdings in Genuine Parts were worth $3,629,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Horizon Investments LLC lifted its position in shares of Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock worth $238,000 after buying an additional 91 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after buying an additional 93 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of Genuine Parts by 11.9% in the first quarter. Truvestments Capital LLC now owns 895 shares of the specialty retailer's stock worth $107,000 after buying an additional 95 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its position in shares of Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after buying an additional 98 shares in the last quarter. Finally, Keybank National Association OH raised its position in Genuine Parts by 0.5% during the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after purchasing an additional 98 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.0%

Shares of NYSE GPC traded down $1.41 during midday trading on Friday, hitting $141.36. The company's stock had a trading volume of 856,705 shares, compared to its average volume of 1,135,903. 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 business's 50 day moving average is $133.70 and its two-hundred day moving average is $125.34. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The firm has a market cap of $19.66 billion, a P/E ratio of 24.33 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 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The company's revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities research analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio is presently 70.91%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Loop Capital upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. UBS Group upped their price objective on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial upped their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI upped their price objective on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

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.