Genuine Parts (NYSE:GPC - Get Free Report) announced its earnings results on Tuesday. The specialty retailer reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.02, Zacks reports. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. 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 firm earned $2.44 EPS. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts updated its FY 2025 guidance to 7.500-8.000 EPS.
Genuine Parts Price Performance
Shares of GPC traded down $0.43 during trading hours on Friday, reaching $132.78. The company had a trading volume of 220,894 shares, compared to its average volume of 1,427,965. The firm has a 50 day simple moving average of $124.86 and a 200-day simple moving average of $121.00. The company has a current ratio of 1.14, a quick ratio of 0.52 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $18.47 billion, a price-to-earnings ratio of 22.84 and a beta of 0.74. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $149.22.
Genuine Parts Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.10%. Genuine Parts's dividend payout ratio is presently 70.91%.
Hedge Funds Weigh In On Genuine Parts
An institutional investor recently raised its position in Genuine Parts stock. Woodline Partners LP increased its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 40.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,746 shares of the specialty retailer's stock after purchasing an additional 3,396 shares during the quarter. Woodline Partners LP's holdings in Genuine Parts were worth $1,399,000 at the end of the most recent quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on GPC. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. UBS Group increased their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Wednesday. The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $135.29.
Check Out Our Latest Analysis on GPC
About Genuine Parts
(
Get Free Report)
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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