Maverick Capital Ltd. Invests $7.92 Million in Genuine Parts Company $GPC

Maverick Capital Ltd. bought a new position in shares of Genuine Parts Company (NYSE:GPC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 66,432 shares of the specialty retailer’s stock, valued at approximately $7,915,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Horizon Investments LLC increased its holdings in Genuine Parts by 4.8% in the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer’s stock valued at $238,000 after buying an additional 91 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in Genuine Parts by 2.8% in the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock valued at $402,000 after buying an additional 93 shares in the last quarter. Truvestments Capital LLC increased its holdings in Genuine Parts by 11.9% in the first quarter. Truvestments Capital LLC now owns 895 shares of the specialty retailer’s stock valued at $107,000 after buying an additional 95 shares in the last quarter. Strategic Wealth Partners Ltd. increased its holdings in Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer’s stock valued at $302,000 after buying an additional 98 shares in the last quarter. Finally, Keybank National Association OH increased its holdings 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 in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Truist Financial increased their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Evercore ISI increased their price target on shares of Genuine Parts from $145.00 to $148.00 and gave the company an “outperform” rating in a research report on Tuesday, August 26th. 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 report on Wednesday, July 23rd. Finally, Loop Capital increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

Genuine Parts Stock Up 0.1%

Shares of NYSE GPC opened at $139.48 on Monday. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.44. The firm’s 50 day moving average price is $130.41 and its 200 day moving average price is $124.18. The firm has a market cap of $19.40 billion, a P/E ratio of 24.01 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. Genuine Parts’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business 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 anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a $1.03 dividend. 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 70.91%.

Genuine Parts 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.