Genuine Parts Company $GPC Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. cut its holdings in shares of Genuine Parts Company (NYSE:GPC) by 9.4% during the second quarter, Holdings Channel.com reports. The fund owned 3,883 shares of the specialty retailer’s stock after selling 405 shares during the period. First City Capital Management Inc.’s holdings in Genuine Parts were worth $471,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of Genuine Parts by 276.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after acquiring an additional 2,461,497 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Genuine Parts by 4.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer’s stock worth $358,387,000 after buying an additional 119,653 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock worth $327,974,000 after buying an additional 498,469 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Genuine Parts by 4.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer’s stock worth $211,816,000 after buying an additional 79,253 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Genuine Parts by 3.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,427,507 shares of the specialty retailer’s stock worth $170,073,000 after buying an additional 48,139 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GPC. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. Truist Financial lifted their price objective on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Loop Capital lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. UBS Group lifted their price objective on Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Finally, Evercore ISI boosted their target price on Genuine Parts from $145.00 to $148.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.86.

Genuine Parts Trading Up 0.0%

Shares of Genuine Parts stock opened at $138.67 on Thursday. The stock has a market cap of $19.29 billion, a P/E ratio of 23.87 and a beta of 0.75. The stock’s 50 day simple moving average is $135.93 and its 200-day simple moving average is $126.09. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51.

Genuine Parts (NYSE:GPC) last issued its 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. The business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts’s payout ratio is presently 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.