Genuine Parts (NYSE:GPC) to Issue Quarterly Dividend of $1.00

Genuine Parts (NYSE:GPC) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Investors of record on Friday, June 7th will be given a dividend of 1.00 per share by the specialty retailer on Monday, July 1st. This represents a $4.00 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, June 7th.

Genuine Parts has raised its dividend by an average of 6.3% annually over the last three years and has raised its dividend annually for the last 68 consecutive years.

Genuine Parts Stock Performance

Shares of GPC opened at $156.77 on Thursday. The stock has a market capitalization of $21.84 billion, a price-to-earnings ratio of 17.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The stock’s 50-day simple moving average is $152.75 and its 200 day simple moving average is $143.09. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 earnings per share. Research analysts forecast that Genuine Parts will post 9.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on GPC shares. Truist Financial increased their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group increased their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Evercore ISI lowered their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Wedbush restated a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average target price of $173.10.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

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.