Genuine Parts Company $GPC Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its holdings in Genuine Parts Company (NYSE:GPC) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,831 shares of the specialty retailer’s stock after selling 1,955 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Genuine Parts were worth $2,770,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Genuine Parts by 1.2% during the second quarter. Geode Capital Management LLC now owns 3,511,008 shares of the specialty retailer’s stock worth $424,367,000 after buying an additional 40,970 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 worth $399,449,000 after acquiring an additional 2,461,497 shares during the period. 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. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Genuine Parts by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,777,990 shares of the specialty retailer’s stock valued at $211,816,000 after purchasing an additional 79,253 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the company’s 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 sale, the executive vice president owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Truist Financial lifted their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. UBS Group upped their price objective on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Loop Capital raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and upped their price target for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $148.00.

Genuine Parts Stock Performance

NYSE GPC opened at $124.76 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The company has a market cap of $17.36 billion, a P/E ratio of 21.47 and a beta of 0.75. The stock has a 50-day moving average of $132.52 and a two-hundred day moving average of $130.04. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

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.