United Services Automobile Association Invests $428,000 in Genuine Parts Company $GPC

Key Points

• The United Services Automobile Association invested approximately $428,000 in Genuine Parts Company by acquiring 3,615 shares during the first quarter, as reported in their Form 13F filing.
• Genuine Parts announced a quarterly dividend of $1.03 per share, translating to an annualized dividend of $4.12 and a yield of 3.0%, which will be paid on October 2nd.
• The company beat analysts' expectations in its latest earnings report, posting $2.10 EPS against an estimate of $2.08, with a revenue of $6.16 billion for the quarter.

United Services Automobile Association acquired a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,615 shares of the specialty retailer's stock, valued at approximately $428,000.

Other large investors also recently made changes to their positions in the company. Rossby Financial LCC bought a new stake in shares of Genuine Parts during the first quarter worth $25,000. Olde Wealth Management LLC acquired a new position in Genuine Parts during the first quarter worth $27,000. North Capital Inc. acquired a new position in Genuine Parts during the first quarter worth $28,000. Investors Research Corp boosted its holdings in Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 125 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after purchasing an additional 318 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Performance

Shares of GPC stock opened at $139.47 on Thursday. The stock has a market cap of $19.40 billion, a P/E ratio of 24.00 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The company has a fifty day moving average price of $133.12 and a two-hundred day moving average price of $125.03. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Analyst Ratings Changes

Several brokerages recently commented on GPC. Loop Capital increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Truist Financial increased their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group increased their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Evercore ISI increased their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One investment 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 issued a Sell rating to the stock. Based on data from 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.

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts Company (NYSE:GPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.