Wellington Management Group LLP Raises Stock Holdings in Genuine Parts Company $GPC

Key Points

• Wellington Management Group LLP increased its stake in Genuine Parts Company by 11.9%, acquiring an additional 3,522 shares for a total value of approximately $3.96 million.
• Genuine Parts Company reported $2.10 earnings per share (EPS) for the recent quarter, exceeding estimates and showcasing a 3.4% revenue growth.
• The company's quarterly dividend of $1.03 per share will be distributed to shareholders on October 2nd, reflecting a yield of 3.0%.

Wellington Management Group LLP raised its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 11.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 33,239 shares of the specialty retailer's stock after acquiring an additional 3,522 shares during the period. Wellington Management Group LLP's holdings in Genuine Parts were worth $3,960,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GPC. Horizon Investments LLC increased its holdings 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 acquiring an additional 91 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Genuine Parts by 2.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after purchasing an additional 93 shares in the last quarter. Strategic Wealth Partners Ltd. grew its position in shares of Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after acquiring an additional 98 shares during the period. Keybank National Association OH raised its stake in Genuine Parts by 0.5% in the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after buying an additional 98 shares during the period. Finally, Veracity Capital LLC increased its holdings in shares of Genuine Parts by 4.9% in the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GPC. Loop Capital upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group boosted 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 upped their target price on Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial lifted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $137.86.

Genuine Parts Stock Up 0.4%

GPC stock traded up $0.51 during midday trading on Wednesday, reaching $136.54. 253,240 shares of the company's stock traded hands, compared to its average volume of 1,373,538. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm's fifty day moving average price is $131.08 and its 200-day moving average price is $124.36. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company has a market cap of $18.99 billion, a price-to-earnings ratio of 23.50 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (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 business's revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, sell-side analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts's dividend payout ratio is 70.91%.

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.