Stack Financial Management Inc Sells 1,763 Shares of Genuine Parts Company $GPC

Stack Financial Management Inc cut its position in shares of Genuine Parts Company (NYSE:GPC) by 2.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 85,764 shares of the specialty retailer’s stock after selling 1,763 shares during the quarter. Stack Financial Management Inc’s holdings in Genuine Parts were worth $10,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC boosted its position in Genuine Parts by 11.9% during the first quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock valued at $1,995,000 after acquiring an additional 1,777 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of Genuine Parts in the 1st quarter valued at about $3,344,000. Revisor Wealth Management LLC boosted its position in shares of Genuine Parts by 75.2% during the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock valued at $853,000 after purchasing an additional 2,910 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Genuine Parts by 11.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer’s stock worth $2,657,000 after purchasing an additional 2,290 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after purchasing an additional 2,461,497 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GPC shares. Truist Financial increased their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group raised their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Finally, Evercore ISI increased their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $138.86.

Genuine Parts Stock Performance

GPC opened at $130.34 on Monday. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $144.29. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 22.43 and a beta of 0.77. The company’s fifty day moving average price is $137.52 and its two-hundred day moving average price is $127.40. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.2%. Genuine Parts’s dividend payout ratio is 70.91%.

Insider Buying and Selling

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

About Genuine Parts

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.