Central Pacific Bank Trust Division Trims Position in Genuine Parts Company $GPC

Central Pacific Bank Trust Division decreased its position in shares of Genuine Parts Company (NYSE:GPC) by 0.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,101 shares of the specialty retailer’s stock after selling 103 shares during the period. Central Pacific Bank Trust Division’s holdings in Genuine Parts were worth $1,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Genuine Parts by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,046 shares of the specialty retailer’s stock worth $1,990,000 after purchasing an additional 664 shares during the period. OMERS ADMINISTRATION Corp raised its stake in Genuine Parts by 19.6% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 5,828 shares of the specialty retailer’s stock worth $680,000 after purchasing an additional 954 shares during the period. Nuveen Asset Management LLC raised its stake in Genuine Parts by 5.5% during the fourth quarter. Nuveen Asset Management LLC now owns 344,035 shares of the specialty retailer’s stock worth $40,170,000 after purchasing an additional 17,822 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in Genuine Parts by 1.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 18,581 shares of the specialty retailer’s stock worth $2,173,000 after purchasing an additional 211 shares during the period. Finally, Mufg Securities Americas Inc. purchased a new position in Genuine Parts during the fourth quarter worth approximately $240,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GPC. UBS Group increased their price target on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Truist Financial increased their price target on shares of 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 increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Evercore ISI increased their price target on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Genuine Parts Price Performance

Genuine Parts stock opened at $141.36 on Friday. The firm has a fifty day moving average of $133.70 and a 200-day moving average of $125.30. The firm has a market capitalization of $19.66 billion, a P/E ratio of 24.33 and a beta of 0.75. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.29. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. The business had revenue of $6.16 billion during 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%. The business’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

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.