Genuine Parts (NYSE:GPC) Declares $1.00 Quarterly Dividend

Genuine Parts (NYSE:GPC) declared a quarterly dividend on Tuesday, November 19th,RTT News reports. Shareholders of record on Friday, December 6th will be given a dividend of 1.00 per share by the specialty retailer on Thursday, January 2nd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.30%.

Genuine Parts has increased its dividend payment by an average of 6.3% annually over the last three years and has increased its dividend annually for the last 69 consecutive years. Genuine Parts has a dividend payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Genuine Parts to earn $8.29 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 48.3%.

Genuine Parts Stock Performance

Shares of NYSE GPC traded down $2.93 during trading on Tuesday, reaching $121.26. 1,001,512 shares of the stock traded hands, compared to its average volume of 1,056,811. The stock has a market capitalization of $16.86 billion, a P/E ratio of 15.68 and a beta of 0.92. The company has a 50-day moving average of $130.54 and a 200-day moving average of $138.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $2.49 earnings per share. Analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GPC has been the topic of several recent research reports. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI raised their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $139.57.

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.