Chevy Chase Trust Holdings LLC Acquires 317 Shares of Genuine Parts Company $GPC

Chevy Chase Trust Holdings LLC raised its holdings in Genuine Parts Company (NYSE:GPC) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,139 shares of the specialty retailer’s stock after purchasing an additional 317 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Genuine Parts worth $8,994,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $25,000. Olde Wealth Management LLC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $27,000. North Capital Inc. acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $28,000. Concord Wealth Partners increased its stake in shares of 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 buying an additional 177 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of 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 buying an additional 318 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.4%

Shares of Genuine Parts stock opened at $133.25 on Monday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29. The business has a fifty day simple moving average of $137.54 and a 200 day simple moving average of $127.89. The stock has a market cap of $18.53 billion, a PE ratio of 22.93 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Research analysts predict that Genuine Parts Company will post 7.9 EPS 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%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GPC. Loop Capital lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. UBS Group lifted their target price on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Truist Financial lifted 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. Finally, JPMorgan Chase & Co. lifted 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.86.

Insiders Place Their Bets

In other Genuine Parts 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 transaction of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

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.