Genuine Parts (NYSE:GPC) Announces Quarterly Dividend of $1.03

Genuine Parts (NYSE:GPC) announced a quarterly dividend on Tuesday, April 29th, RTT News reports. Stockholders of record on Friday, June 6th will be given a dividend of 1.03 per share by the specialty retailer on Wednesday, July 2nd. This represents a $4.12 annualized dividend and a dividend yield of 3.51%.

Genuine Parts has increased its dividend by an average of 7.1% per year over the last three years and has raised its dividend every year for the last 70 years. Genuine Parts has a payout ratio of 46.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Genuine Parts to earn $8.90 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 46.3%.

Genuine Parts Stock Performance

Shares of GPC stock opened at $117.24 on Tuesday. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of 18.05 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company has a 50 day moving average price of $118.89 and a 200 day moving average price of $120.41. Genuine Parts has a one year low of $104.01 and a one year high of $162.06.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Analysts Set New Price Targets

GPC has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Evercore ISI dropped their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Truist Financial boosted their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $130.86.

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.