Tag: Genuine Parts

Genuine Parts (NYSE:GPC – Get Free Report) issued its earnings results on Thursday. The specialty retailer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.10, MarketWatch Earnings reports. Genuine Parts had a return on equity of 32.43% and a net margin of 5.30%. The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.96 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Genuine Parts updated its FY 2023 guidance to $9.15-$9.30 EPS and its FY23 guidance to $9.15-9.30 EPS.

Genuine Parts Stock Up 0.7 %

Shares of GPC opened at $156.31 on Friday. The firm has a market capitalization of $21.96 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.91 and a beta of 0.91. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.58 and a current ratio of 1.15. The business’s fifty day moving average price is $161.51 and its two-hundred day moving average price is $166.00. Genuine Parts has a 52 week low of $141.90 and a 52 week high of $187.73.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Friday, June 2nd were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $3.80 dividend on an annualized basis and a yield of 2.43%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling at Genuine Parts

In other news, insider Randall P. Breaux acquired 500 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were purchased at an average cost of $149.44 per share, for a total transaction of $74,720.00. Following the transaction, the insider now owns 20,523 shares of the company’s stock, valued at $3,066,957.12. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GPC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Genuine Parts by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after buying an additional 1,180 shares during the period. Cibc World Market Inc. grew its holdings in shares of Genuine Parts by 14.8% in the 1st quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after acquiring an additional 354 shares in the last quarter. Sei Investments Co. grew its holdings in Genuine Parts by 9.4% during the first quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock worth $6,448,000 after purchasing an additional 4,372 shares during the period. Aviva PLC grew its holdings in Genuine Parts by 63.1% during the first quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock worth $9,949,000 after purchasing an additional 30,545 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Genuine Parts by 195.1% during the first quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock worth $14,408,000 after purchasing an additional 75,591 shares during the period. Institutional investors and hedge funds own 80.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and boosted their target price for the company from $163.00 to $164.00 in a research note on Monday, May 1st. They noted that the move was a valuation call. Northcoast Research began coverage on Genuine Parts in a research report on Wednesday, June 28th. They set a “buy” rating and a $195.00 price objective for the company. Truist Financial cut their price target on Genuine Parts from $195.00 to $191.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. cut their price target on Genuine Parts from $190.00 to $184.00 and set an “overweight” rating for the company in a report on Friday. Finally, Evercore ISI lowered their price objective on Genuine Parts from $170.00 to $165.00 in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Genuine Parts Company Profile

(Get Free Report)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as 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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