ProShare Advisors LLC Sells 79,090 Shares of Genuine Parts Company $GPC

ProShare Advisors LLC lowered its stake in shares of Genuine Parts Company (NYSE:GPC) by 5.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,388,871 shares of the specialty retailer’s stock after selling 79,090 shares during the period. ProShare Advisors LLC’s holdings in Genuine Parts were worth $168,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its stake in Genuine Parts by 8,833.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 265 shares during the period. Concord Wealth Partners boosted its position in shares of Genuine Parts by 148.7% in the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 177 shares during the period. Hantz Financial Services Inc. grew its stake in Genuine Parts by 7,825.0% during the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 313 shares in the last quarter. Cromwell Holdings LLC increased its holdings in Genuine Parts by 49.1% during the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 114 shares during the period. Finally, Quaker Wealth Management LLC lifted its stake in Genuine Parts by 11,533.3% in the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 346 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $126.73 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $134.84 and a 200-day moving average price of $129.67. The company has a market cap of $17.63 billion, a price-to-earnings ratio of 21.81 and a beta of 0.75. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $143.48.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.04). The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, equities analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, September 5th. Genuine Parts’s dividend payout ratio is currently 70.91%.

Insider Buying and Selling

In related 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 value of $732,450.36. Following the completion of the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on GPC shares. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Loop Capital boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. UBS Group upped their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Truist Financial upped their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.33.

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.