IFM Investors Pty Ltd Grows Position in Genuine Parts Company $GPC

IFM Investors Pty Ltd grew its stake in shares of Genuine Parts Company (NYSE:GPC) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,623 shares of the specialty retailer’s stock after purchasing an additional 826 shares during the quarter. IFM Investors Pty Ltd’s holdings in Genuine Parts were worth $3,230,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Rossby Financial LCC purchased a new stake in Genuine Parts in the first quarter worth $25,000. Olde Wealth Management LLC purchased a new stake in Genuine Parts in the first quarter worth $27,000. North Capital Inc. purchased a new stake in Genuine Parts in the first quarter worth $28,000. Investors Research Corp lifted its stake in Genuine Parts by 75.3% in the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 125 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in Genuine Parts by 7,950.0% in the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 318 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.5%

Shares of NYSE:GPC opened at $138.02 on Tuesday. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of 23.75 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. The stock’s 50-day simple moving average is $135.28 and its two-hundred day simple moving average is $125.91. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.29.

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 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% on a year-over-year basis. During the same period last year, the firm posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GPC shares. Truist Financial raised their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Loop Capital raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased 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. UBS Group increased 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 increased their price objective on Genuine Parts from $145.00 to $148.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.86.

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.