Cullen Frost Bankers Inc. Has $10.90 Million Stock Position in Genuine Parts Company $GPC

Cullen Frost Bankers Inc. grew its position in Genuine Parts Company (NYSE:GPC) by 21.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 89,819 shares of the specialty retailer’s stock after buying an additional 15,699 shares during the period. Cullen Frost Bankers Inc. owned 0.06% of Genuine Parts worth $10,896,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. Goldman Sachs Group Inc. increased its stake in shares of Genuine Parts by 276.2% in the 1st 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 period. Assenagon Asset Management S.A. increased its stake in shares of Genuine Parts by 377.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer’s stock valued at $113,233,000 after buying an additional 737,836 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock valued at $327,974,000 after buying an additional 498,469 shares during the period. Nuveen LLC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $41,646,000. Finally, Pzena Investment Management LLC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $35,860,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GPC shares. Truist Financial lifted their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Loop Capital lifted 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 lifted their price objective on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Evercore ISI lifted 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, October 1st. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president directly owned 26,112 shares in the company, valued at $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Genuine Parts Stock Performance

GPC stock opened at $132.73 on Thursday. The business’s 50-day moving average price is $137.39 and its two-hundred day moving average price is $128.07. 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 firm has a market cap of $18.46 billion, a PE ratio of 22.84 and a beta of 0.77. Genuine Parts Company has a 1-year low of $104.01 and a 1-year 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 for the quarter, missing the consensus estimate of $2.02 by ($0.04). The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a return on equity of 22.94% and a net margin of 3.36%.The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, research analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders 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 3.1%. Genuine Parts’s payout ratio is currently 70.91%.

Genuine Parts 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.