Candriam S.C.A. Purchases Shares of 3,099 Genuine Parts Company $GPC

Candriam S.C.A. acquired a new position in shares of Genuine Parts Company (NYSE:GPC) during the 2nd quarter, Holdings Channel reports. The fund acquired 3,099 shares of the specialty retailer’s stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Inspire Investing LLC lifted its position in shares of Genuine Parts by 11.9% during the first quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock worth $1,995,000 after purchasing an additional 1,777 shares in the last quarter. Revisor Wealth Management LLC increased its stake in Genuine Parts by 75.2% during the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock worth $853,000 after buying an additional 2,910 shares during the period. Goldman Sachs Group Inc. increased its stake in Genuine Parts by 276.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock worth $399,449,000 after buying an additional 2,461,497 shares during the period. Synergy Asset Management LLC acquired a new position in Genuine Parts in the 2nd quarter worth $3,516,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Genuine Parts by 16.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,089 shares of the specialty retailer’s stock valued at $3,165,000 after buying an additional 3,659 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the company’s 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 transaction, the executive vice president directly owned 26,112 shares in the company, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Loop Capital lifted 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. Truist Financial upped their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their price target for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Genuine Parts Stock Performance

Genuine Parts stock opened at $126.71 on Tuesday. The company has a market cap of $17.63 billion, a PE ratio of 21.81 and a beta of 0.75. The company has a fifty day moving average price of $133.42 and a two-hundred day moving average price of $130.07. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $143.48.

Genuine Parts (NYSE:GPC) last issued its 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 business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the company posted $1.88 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 5th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.3%. Genuine Parts’s dividend payout ratio (DPR) is 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.