2,766 Shares in Genuine Parts Company $GPC Acquired by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC acquired a new position in Genuine Parts Company (NYSE:GPC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,766 shares of the specialty retailer’s stock, valued at approximately $336,000.

A number of other hedge funds have also recently added to or reduced their stakes in GPC. Rossby Financial LCC acquired a new position in Genuine Parts in the first quarter worth approximately $25,000. Olde Wealth Management LLC acquired a new position in Genuine Parts in the first quarter worth approximately $27,000. North Capital Inc. acquired a new position in Genuine Parts in the first quarter worth approximately $28,000. Concord Wealth Partners increased its holdings in Genuine Parts by 148.7% in the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after buying an additional 177 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Genuine Parts by 7,950.0% during the first 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 last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.8%

Shares of NYSE GPC opened at $130.93 on Monday. The business has a fifty day moving average of $137.16 and a two-hundred day moving average of $128.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The stock 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 released its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, equities research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts’s payout ratio is currently 70.91%.

Insider Activity

In related news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts 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 completion of the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on GPC. Loop Capital increased their price target on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Evercore ISI increased their price target on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. increased their price target on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group increased their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Truist Financial increased their price target on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.