Fintel reports that on October 5, 2023, Truist Securities maintained coverage of Genuine Parts (NYSE:GPC) with a Buy recommendation.
Analyst Price Forecast Suggests 25.53% Upside
As of October 5, 2023, the average one-year price target for Genuine Parts is 179.52. The forecasts range from a low of 161.60 to a high of $204.75. The average price target represents an increase of 25.53% from its latest reported closing price of 143.01.
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The projected annual revenue for Genuine Parts is 22,792MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 8.69.
Genuine Parts Declares $0.95 Dividend
On August 15, 2023 the company declared a regular quarterly dividend of $0.95 per share ($3.80 annualized). Shareholders of record as of September 8, 2023 received the payment on October 2, 2023. Previously, the company paid $0.95 per share.
At the current share price of $143.01 / share, the stock's dividend yield is 2.66%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.84%, the lowest has been 1.94%, and the highest has been 6.28%. The standard deviation of yields is 0.56 (n=236).
The current dividend yield is 0.34 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.44. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.20%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1870 funds or institutions reporting positions in Genuine Parts. This is a decrease of 52 owner(s) or 2.71% in the last quarter. Average portfolio weight of all funds dedicated to GPC is 0.23%, a decrease of 6.06%. Total shares owned by institutions decreased in the last three months by 4.81% to 118,196K shares. 
The put/call ratio of GPC is 0.91, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,390K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 4,352K shares, representing an increase of 0.87%. The firm decreased its portfolio allocation in GPC by 5.86% over the last quarter.
Bank Of America holds 3,548K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 1,851K shares, representing an increase of 47.83%. The firm increased its portfolio allocation in GPC by 675.80% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,346K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 3,289K shares, representing an increase of 1.71%. The firm decreased its portfolio allocation in GPC by 6.79% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 3,257K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 3,289K shares, representing a decrease of 0.98%. The firm decreased its portfolio allocation in GPC by 3.84% over the last quarter.
Geode Capital Management holds 3,033K shares representing 2.16% ownership of the company. In it's prior filing, the firm reported owning 2,978K shares, representing an increase of 1.82%. The firm decreased its portfolio allocation in GPC by 6.81% over the last quarter.
Genuine Parts Background Information
(This description is provided by the company.)
Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The Company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany, Poland, the Netherlandsand Belgium. The Company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexicoand Australasia. In total, the Company serves its global customers from an extensive network of more than 10,000 locations in 14 countries.
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