Kennon Green & Company LLC Sells 605 Shares of Genuine Parts Company $GPC

Kennon Green & Company LLC reduced its position in shares of Genuine Parts Company (NYSE:GPC) by 5.4% in the second quarter, Holdings Channel reports. The firm owned 10,635 shares of the specialty retailer’s stock after selling 605 shares during the quarter. Genuine Parts accounts for 1.1% of Kennon Green & Company LLC’s holdings, making the stock its 26th biggest holding. Kennon Green & Company LLC’s holdings in Genuine Parts were worth $1,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GPC. Inspire Investing LLC boosted its stake in Genuine Parts by 11.9% during the 1st quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock valued at $1,995,000 after purchasing an additional 1,777 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new position in shares of Genuine Parts in the first quarter worth $3,344,000. Revisor Wealth Management LLC lifted its holdings in shares of Genuine Parts by 75.2% during the second 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. lifted its holdings in shares of 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 valued at $2,657,000 after purchasing an additional 2,290 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $399,449,000 after buying an additional 2,461,497 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Genuine Parts Stock Performance

NYSE:GPC opened at $133.58 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The stock has a 50-day simple moving average of $137.54 and a two-hundred day simple moving average of $127.53. The firm has a market capitalization of $18.58 billion, a PE ratio of 22.99 and a beta of 0.77. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.29.

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

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. Genuine Parts’s dividend payout ratio is 70.91%.

Insider Activity

In related news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the transaction, the executive vice president owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by company insiders.

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.