Naples Global Advisors LLC Raises Stock Holdings in Genuine Parts Company $GPC

Naples Global Advisors LLC lifted its holdings in Genuine Parts Company (NYSE:GPC) by 4.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,159 shares of the specialty retailer’s stock after purchasing an additional 895 shares during the period. Naples Global Advisors LLC’s holdings in Genuine Parts were worth $2,342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Cantor Fitzgerald Investment Advisors L.P. raised its holdings in shares of Genuine Parts by 0.4% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 103,304 shares of the specialty retailer’s stock worth $12,532,000 after buying an additional 370 shares during the period. Trust Co. of Vermont grew its stake in Genuine Parts by 12.0% in the second quarter. Trust Co. of Vermont now owns 7,880 shares of the specialty retailer’s stock worth $956,000 after purchasing an additional 843 shares in the last quarter. Forza Wealth Management LLC grew its stake in Genuine Parts by 3.6% in the second quarter. Forza Wealth Management LLC now owns 5,053 shares of the specialty retailer’s stock worth $613,000 after purchasing an additional 176 shares in the last quarter. Columbia Asset Management grew its stake in Genuine Parts by 10.9% in the second quarter. Columbia Asset Management now owns 5,240 shares of the specialty retailer’s stock worth $636,000 after purchasing an additional 515 shares in the last quarter. Finally, Centennial Wealth Advisory LLC bought a new position in Genuine Parts in the second quarter worth approximately $466,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the 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 completion of the sale, the executive vice president owned 26,112 shares in the company, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Genuine Parts Stock Down 0.2%

Shares of NYSE GPC opened at $138.33 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $19.24 billion, a PE ratio of 23.81 and a beta of 0.77. The stock’s fifty day simple moving average is $136.96 and its two-hundred day simple moving average is $126.60. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29.

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

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts’s dividend payout ratio is currently 70.91%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GPC. Evercore ISI increased their price objective on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Loop Capital increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. UBS Group increased their price objective on Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Truist Financial increased their price objective on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.14.

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.