DAVENPORT & Co LLC Sells 5,798 Shares of Genuine Parts Company $GPC

DAVENPORT & Co LLC lessened its stake in shares of Genuine Parts Company (NYSE:GPC) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 472,315 shares of the specialty retailer’s stock after selling 5,798 shares during the period. DAVENPORT & Co LLC owned 0.34% of Genuine Parts worth $65,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC grew its stake in Genuine Parts by 8,833.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after buying an additional 265 shares during the last quarter. Concord Wealth Partners boosted its holdings in Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 177 shares during the period. Hantz Financial Services Inc. grew its position in shares of Genuine Parts by 7,825.0% in the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 313 shares during the last quarter. Cromwell Holdings LLC increased its stake in shares of Genuine Parts by 49.1% in the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 114 shares during the period. Finally, Quaker Wealth Management LLC lifted its position in shares of Genuine Parts by 11,533.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 346 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 1.1%

GPC opened at $123.83 on Wednesday. The company has a market capitalization of $17.23 billion, a P/E ratio of 21.31 and a beta of 0.74. 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 firm’s fifty day moving average price is $128.73 and its two-hundred day moving average price is $130.84. 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 released its quarterly earnings data 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 return on equity of 22.57% and a net margin of 3.36%.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 previous year, the business posted $1.88 earnings per share. Genuine Parts’s revenue was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

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 paid a dividend of $1.03 per share. The ex-dividend date is Friday, December 5th. This represents a $4.12 dividend on an annualized basis and a yield of 3.3%. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

Analyst Ratings Changes

A number of research firms have issued reports on GPC. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and raised their target price for the company from $130.00 to $142.00 in a report on Thursday, November 13th. Evercore ISI increased their price objective on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday, December 17th. Truist Financial upped 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. Finally, UBS Group raised their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Insiders Place Their Bets

In other news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.42% of the company’s stock.

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.