D.A. Davidson & CO. Has $3.98 Million Stock Position in Genuine Parts Company $GPC

D.A. Davidson & CO. lowered its stake in Genuine Parts Company (NYSE:GPC) by 7.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 32,773 shares of the specialty retailer’s stock after selling 2,526 shares during the period. D.A. Davidson & CO.’s holdings in Genuine Parts were worth $3,976,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rossby Financial LCC acquired a new position in Genuine Parts in the 1st quarter valued at about $25,000. Olde Wealth Management LLC acquired a new position in Genuine Parts in the 1st quarter valued at about $27,000. North Capital Inc. bought a new stake in Genuine Parts in the 1st quarter valued at about $28,000. Concord Wealth Partners boosted its holdings in Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 177 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 318 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. Loop Capital boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial boosted their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday. Finally, UBS Group boosted their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. One 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $130.93 on Friday. The company has a 50 day moving average of $137.16 and a 200-day moving average of $128.41. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48. 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 market cap of $18.21 billion, a PE ratio of 22.53 and a beta of 0.77.

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

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors 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 annualized dividend and a yield of 3.1%. Genuine Parts’s dividend payout ratio is presently 70.91%.

Insider Buying and Selling

In related news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction that occurred 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 $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by 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.