Genuine Parts (GPC) Increases Dividend to $0.72 Per Share

Genuine Parts (NYSE:GPC) announced a quarterly dividend on Tuesday, February 20th, RTT News reports. Shareholders of record on Friday, March 9th will be given a dividend of 0.72 per share by the specialty retailer on Monday, April 2nd. This represents a $2.88 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Thursday, March 8th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.68.

Genuine Parts has increased its dividend payment by an average of 5.8% annually over the last three years and has increased its dividend every year for the last 61 years. Genuine Parts has a payout ratio of 58.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Genuine Parts to earn $6.13 per share next year, which means the company should continue to be able to cover its $2.70 annual dividend with an expected future payout ratio of 44.0%.

NYSE:GPC traded up $1.15 during trading hours on Thursday, reaching $89.83. The stock had a trading volume of 512,663 shares, compared to its average volume of 923,843. Genuine Parts has a 12-month low of $79.86 and a 12-month high of $107.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.34 and a quick ratio of 0.65. The company has a market capitalization of $13,000.68, a P/E ratio of 21.49, a P/E/G ratio of 2.33 and a beta of 1.22.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. Genuine Parts had a return on equity of 20.48% and a net margin of 3.78%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company earned $1.02 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. analysts anticipate that Genuine Parts will post 5.72 earnings per share for the current year.

A number of research firms have recently commented on GPC. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a report on Tuesday, February 6th. Royal Bank of Canada dropped their price objective on Genuine Parts to $100.00 and set a “market perform” rating for the company in a research note on Wednesday, February 21st. Bank of America dropped their price objective on Genuine Parts from $90.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, February 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $107.00 price objective (down previously from $114.00) on shares of Genuine Parts in a research note on Wednesday, February 21st. Finally, Moffett Nathanson initiated coverage on Genuine Parts in a research note on Monday, December 4th. They set a “sell” rating for the company. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $97.71.

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About Genuine Parts

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

Dividend History for Genuine Parts (NYSE:GPC)

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