Swedbank AB Lowers Position in Genuine Parts Company $GPC

Key Points

• Swedbank AB reduced its stake in Genuine Parts Company by 2.3%, now holding 115,040 shares valued at approximately $13.7 million.
• Genuine Parts reported a quarterly earnings per share of $2.10, exceeding expectations, with total revenue of $6.16 billion.
• The company announced a quarterly dividend of $1.03 per share with a yield of 2.9%, set to be paid on October 2nd.

Swedbank AB lessened its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,040 shares of the specialty retailer's stock after selling 2,713 shares during the period. Swedbank AB owned 0.08% of Genuine Parts worth $13,706,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rossby Financial LCC bought a new position in Genuine Parts in the first quarter valued at $25,000. Olde Wealth Management LLC bought a new position in Genuine Parts in the first quarter valued at $27,000. North Capital Inc. bought a new position in Genuine Parts in the first quarter valued at $28,000. Investors Research Corp increased its stake in Genuine Parts by 75.3% in the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in Genuine Parts by 7,950.0% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after acquiring an additional 318 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Performance

Genuine Parts stock opened at $141.36 on Monday. The stock's 50 day simple moving average is $133.70 and its two-hundred day simple moving average is $125.34. 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 $19.66 billion, a price-to-earnings ratio of 24.33 and a beta of 0.75. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.02. The business 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%.The business's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

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 given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's payout ratio is presently 70.91%.

Analyst Ratings Changes

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

About Genuine Parts

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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