IFM Investors Pty Ltd Reduces Stock Holdings in Genuine Parts Company $GPC

IFM Investors Pty Ltd trimmed its position in shares of Genuine Parts Company (NYSE:GPC) by 16.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,360 shares of the specialty retailer’s stock after selling 4,263 shares during the period. IFM Investors Pty Ltd’s holdings in Genuine Parts were worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Welch Group LLC grew its stake in shares of Genuine Parts by 6.5% during the 3rd quarter. Welch Group LLC now owns 13,858 shares of the specialty retailer’s stock worth $1,921,000 after acquiring an additional 841 shares during the period. Cultivar Capital Inc. bought a new stake in Genuine Parts in the 3rd quarter valued at about $219,000. Farther Finance Advisors LLC lifted its holdings in Genuine Parts by 22.3% during the third quarter. Farther Finance Advisors LLC now owns 12,558 shares of the specialty retailer’s stock valued at $1,741,000 after purchasing an additional 2,288 shares during the last quarter. O Keefe Stevens Advisory Inc. lifted its holdings in Genuine Parts by 2.6% during the third quarter. O Keefe Stevens Advisory Inc. now owns 8,161 shares of the specialty retailer’s stock valued at $1,131,000 after purchasing an additional 205 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its position in Genuine Parts by 6.2% during the third quarter. HBK Sorce Advisory LLC now owns 1,769 shares of the specialty retailer’s stock worth $236,000 after purchasing an additional 104 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 0.5%

Shares of NYSE:GPC opened at $126.09 on Friday. The firm has a fifty day moving average price of $128.25 and a two-hundred day moving average price of $130.77. The company has a market cap of $17.54 billion, a price-to-earnings ratio of 21.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 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 3.3%. The ex-dividend date is Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. UBS Group lifted their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a report on Tuesday. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and raised their price target for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their price target on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.00.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.