Texas Permanent School Fund Corp Decreases Stock Holdings in Genuine Parts Company $GPC

Texas Permanent School Fund Corp decreased its stake in shares of Genuine Parts Company (NYSE:GPC) by 38.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,488 shares of the specialty retailer’s stock after selling 5,965 shares during the period. Texas Permanent School Fund Corp’s holdings in Genuine Parts were worth $1,151,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Genuine Parts by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock valued at $2,099,776,000 after buying an additional 260,787 shares during the period. State Street Corp increased its position in Genuine Parts by 0.9% during the second quarter. State Street Corp now owns 7,797,180 shares of the specialty retailer’s stock valued at $953,779,000 after acquiring an additional 73,361 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Genuine Parts by 1.2% in the second quarter. Geode Capital Management LLC now owns 3,511,008 shares of the specialty retailer’s stock valued at $424,367,000 after acquiring an additional 40,970 shares during the period. Goldman Sachs Group Inc. boosted its position in 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 worth $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Genuine Parts by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,080,251 shares of the specialty retailer’s stock valued at $373,425,000 after purchasing an additional 70,668 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Evercore ISI increased their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. UBS Group boosted their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Truist Financial raised their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and boosted their price target for the company from $130.00 to $142.00 in a report on Thursday, November 13th. 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 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.

Insiders Place Their Bets

In other Genuine Parts 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 trade represents a 16.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by insiders.

Genuine Parts Stock Up 1.1%

GPC opened at $125.25 on Thursday. The stock has a market cap of $17.42 billion, a price-to-earnings ratio of 21.56 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The firm’s fifty day moving average is $128.56 and its 200 day moving average is $130.80. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 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 for the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the prior year, the business earned $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 forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.3%. Genuine Parts’s payout ratio is currently 70.91%.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.