United Services Automobile Association Takes Position 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 bought a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 3,615 shares of the specialty retailer's stock, valued at approximately $428,000.

Several other hedge funds have also recently bought and sold shares of the stock. Rossby Financial LCC bought a new position in shares of Genuine Parts in the first quarter valued at $25,000. Olde Wealth Management LLC bought a new stake in shares of Genuine Parts in the first quarter valued at about $27,000. North Capital Inc. bought a new stake in shares of Genuine Parts in the first quarter valued at about $28,000. Investors Research Corp boosted its position in shares of 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 period. Finally, Golden State Wealth Management LLC raised 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 purchasing an additional 318 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GPC. JPMorgan Chase & Co. boosted their target price on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Loop Capital boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Truist Financial upped their target price on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. UBS Group upped their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI increased their price target on Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a report on Tuesday, August 26th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $137.86.

Genuine Parts Stock Performance

Shares of GPC stock traded up $0.64 on Tuesday, hitting $139.68. 287,942 shares of the stock were exchanged, compared to its average volume of 1,382,811. 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 firm has a market capitalization of $19.43 billion, a PE ratio of 24.05 and a beta of 0.75. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.29. The firm's 50 day moving average is $133.98 and its two-hundred day moving average is $125.44.

Genuine Parts (NYSE:GPC - Get Free Report) last posted 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 company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal 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 given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio (DPR) is 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.