Prime Capital Investment Advisors LLC Cuts Stake in Genuine Parts Company $GPC

Prime Capital Investment Advisors LLC reduced its stake in shares of Genuine Parts Company (NYSE:GPC) by 13.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,824 shares of the specialty retailer’s stock after selling 453 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Genuine Parts were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings 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 valued at $399,449,000 after buying an additional 2,461,497 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Genuine Parts by 4.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer’s stock valued at $358,387,000 after acquiring an additional 119,653 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Genuine Parts by 22.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock valued at $327,974,000 after acquiring an additional 498,469 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Genuine Parts by 4.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer’s stock valued at $211,816,000 after acquiring an additional 79,253 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Genuine Parts by 3.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,427,507 shares of the specialty retailer’s stock valued at $170,073,000 after acquiring an additional 48,139 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts 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 sale, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. This trade 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 can be accessed through this link. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GPC shares. JPMorgan Chase & Co. increased their target price on Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Truist Financial increased their target price on Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Evercore ISI increased their target price on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. UBS Group increased their target price on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Loop Capital increased their target price on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $138.86.

Genuine Parts Stock Down 0.9%

Shares of GPC opened at $130.34 on Friday. The company has a market cap of $18.13 billion, a PE ratio of 22.43 and a beta of 0.77. The business has a fifty day moving average of $137.52 and a 200 day moving average of $127.35. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $144.29. 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 (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.Genuine Parts’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, sell-side analysts expect 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. Stockholders of record on Friday, September 5th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, September 5th. 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.