Sequoia Financial Advisors LLC Has $343,000 Stock Position in Genuine Parts Company $GPC

Sequoia Financial Advisors LLC lowered its stake in shares of Genuine Parts Company (NYSE:GPC) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,830 shares of the specialty retailer’s stock after selling 509 shares during the period. Sequoia Financial Advisors LLC’s holdings in Genuine Parts were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pzena Investment Management LLC increased its position in shares of Genuine Parts by 98.0% during the second quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer’s stock worth $72,307,000 after acquiring an additional 295,064 shares in the last quarter. Bill Few Associates Inc. increased its position in shares of Genuine Parts by 5.8% during the second quarter. Bill Few Associates Inc. now owns 3,489 shares of the specialty retailer’s stock worth $423,000 after acquiring an additional 192 shares in the last quarter. GW Henssler & Associates Ltd. increased its position in shares of Genuine Parts by 17.6% during the second quarter. GW Henssler & Associates Ltd. now owns 6,887 shares of the specialty retailer’s stock worth $835,000 after acquiring an additional 1,030 shares in the last quarter. CWM LLC increased its position in shares of Genuine Parts by 108.6% during the second quarter. CWM LLC now owns 8,012 shares of the specialty retailer’s stock worth $972,000 after acquiring an additional 4,172 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Genuine Parts during the second quarter worth about $105,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Up 1.9%

Genuine Parts stock opened at $134.37 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The stock has a market cap of $18.69 billion, a PE ratio of 23.13 and a beta of 0.77. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48. The firm’s 50-day simple moving average is $137.50 and its 200 day simple moving average is $128.04.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Research analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently commented on GPC. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Truist Financial set a $146.00 price target on shares of Genuine Parts in a report on Tuesday. UBS Group boosted their price target 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, Evercore ISI boosted their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $139.29.

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by insiders.

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.