Genuine Parts Company $GPC Position Trimmed by M&G PLC

M&G PLC reduced its holdings in Genuine Parts Company (NYSE:GPC) by 10.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,834 shares of the specialty retailer’s stock after selling 713 shares during the quarter. M&G PLC’s holdings in Genuine Parts were worth $706,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Inspire Investing LLC increased its holdings in shares of Genuine Parts by 11.9% in the 1st quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock worth $1,995,000 after acquiring an additional 1,777 shares during the period. Revisor Wealth Management LLC grew its position in Genuine Parts by 75.2% in the 2nd quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock worth $853,000 after purchasing an additional 2,910 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the second quarter valued at approximately $3,516,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $5,625,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on GPC. JPMorgan Chase & Co. raised their target price on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Loop Capital lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. UBS Group upped their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Truist Financial raised their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Insider Activity at Genuine Parts

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 transaction of $732,450.36. Following the completion of the sale, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by insiders.

Genuine Parts Trading Up 0.4%

Shares of GPC stock opened at $127.65 on Friday. The stock has a 50-day simple moving average of $133.92 and a 200 day simple moving average of $129.77. The stock has a market capitalization of $17.76 billion, a P/E ratio of 21.97 and a beta of 0.75. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter last year, the firm posted $1.88 earnings per share. Genuine Parts’s 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. On average, sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

About Genuine Parts

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.