Genuine Parts (NYSE:GPC) Announces $1.03 Quarterly Dividend

Genuine Parts (NYSE:GPC) announced a quarterly dividend on Tuesday, April 29th, RTT News reports. Investors of record on Friday, June 6th will be given a dividend of 1.03 per share by the specialty retailer on Wednesday, July 2nd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.51%.

Genuine Parts has raised its dividend by an average of 7.1% annually over the last three years and has increased its dividend annually for the last 70 consecutive years. Genuine Parts has a payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Genuine Parts to earn $8.90 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 46.3%.

Genuine Parts Price Performance

NYSE:GPC opened at $117.24 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $118.89 and a 200 day simple moving average of $120.41. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $162.06. The stock has a market capitalization of $16.27 billion, a PE ratio of 18.05 and a beta of 0.82.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. On average, research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday. Argus raised Genuine Parts to a “strong-buy” rating in a report on Friday. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Moderate Buy” and an average target price of $130.86.

Genuine Parts Company Profile

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.