Genuine Parts Declares Quarterly Dividend of $0.90 (NYSE:GPC)

Genuine Parts (NYSE:GPCGet Rating) announced a quarterly dividend on Thursday, April 28th, RTT News reports. Investors of record on Friday, June 3rd will be paid a dividend of 0.895 per share by the specialty retailer on Friday, July 1st. This represents a $3.58 annualized dividend and a dividend yield of 2.69%.

Genuine Parts has raised its dividend payment by an average of 4.2% annually over the last three years and has increased its dividend every year for the last 67 years. Genuine Parts has a dividend payout ratio of 44.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Genuine Parts to earn $8.25 per share next year, which means the company should continue to be able to cover its $3.58 annual dividend with an expected future payout ratio of 43.4%.

Shares of Genuine Parts stock opened at $133.19 on Friday. Genuine Parts has a twelve month low of $115.63 and a twelve month high of $142.97. The company has a quick ratio of 0.59, a current ratio of 1.16 and a debt-to-equity ratio of 0.94. The company has a 50-day simple moving average of $127.64 and a two-hundred day simple moving average of $131.42. The stock has a market capitalization of $18.86 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10.

Genuine Parts (NYSE:GPCGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The specialty retailer reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.18. Genuine Parts had a net margin of 4.71% and a return on equity of 30.84%. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the company earned $1.50 EPS. The business’s revenue was up 17.6% on a year-over-year basis. On average, sell-side analysts anticipate that Genuine Parts will post 7.85 earnings per share for the current fiscal year.

Several analysts recently issued reports on the stock. Truist Financial initiated coverage on shares of Genuine Parts in a research report on Thursday, January 13th. They set a “hold” rating and a $142.00 price target on the stock. StockNews.com started coverage on Genuine Parts in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Finally, Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Friday, February 18th. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $137.25.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Salem Investment Counselors Inc. grew its holdings in shares of Genuine Parts by 144.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 186 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. Penserra Capital Management LLC increased its holdings in Genuine Parts by 20.1% in the 4th quarter. Penserra Capital Management LLC now owns 627 shares of the specialty retailer’s stock worth $87,000 after acquiring an additional 105 shares during the last quarter. Zullo Investment Group Inc. purchased a new stake in Genuine Parts during the fourth quarter valued at about $110,000. Heritage Wealth Advisors purchased a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $182,000. Finally, Belpointe Asset Management LLC boosted its holdings in Genuine Parts by 4.6% in the 4th quarter. Belpointe Asset Management LLC now owns 1,871 shares of the specialty retailer’s stock worth $262,000 after buying an additional 82 shares during the period. 75.23% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Company Profile (Get Rating)

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, industrial concerns, and individuals.

Further Reading

Dividend History for Genuine Parts (NYSE:GPC)

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