Oregon Public Employees Retirement Fund Boosts Stock Position in Genuine Parts Company $GPC

Oregon Public Employees Retirement Fund raised its holdings in Genuine Parts Company (NYSE:GPC) by 33.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,900 shares of the specialty retailer’s stock after purchasing an additional 3,942 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Genuine Parts were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Revisor Wealth Management LLC lifted its position in shares of Genuine Parts by 75.2% during the second quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock worth $853,000 after acquiring an additional 2,910 shares in the last quarter. Synergy Asset Management LLC purchased a new position in shares of Genuine Parts in the second quarter valued at $3,516,000. Caldwell Trust Co bought a new stake in shares of Genuine Parts during the 2nd quarter valued at $3,323,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Genuine Parts by 16.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,089 shares of the specialty retailer’s stock valued at $3,165,000 after purchasing an additional 3,659 shares during the period. Finally, Czech National Bank lifted its holdings in Genuine Parts by 6.2% during the 2nd quarter. Czech National Bank now owns 33,925 shares of the specialty retailer’s stock worth $4,115,000 after purchasing an additional 1,991 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 0.7%

GPC stock opened at $129.26 on Tuesday. The company’s 50 day moving average is $127.03 and its 200 day moving average is $131.23. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 22.25 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Sell-side analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were given a $1.03 dividend. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 3.2%. Genuine Parts’s payout ratio is 70.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GPC shares. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and lifted their target price for the company from $130.00 to $142.00 in a report on Thursday, November 13th. UBS Group raised their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Truist Financial increased their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.