Forza Wealth Management LLC Acquires 176 Shares of Genuine Parts Company $GPC

Forza Wealth Management LLC grew its position in Genuine Parts Company (NYSE:GPC) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,053 shares of the specialty retailer’s stock after buying an additional 176 shares during the period. Forza Wealth Management LLC’s holdings in Genuine Parts were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $25,000. Olde Wealth Management LLC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $27,000. North Capital Inc. acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $28,000. Golden State Wealth Management LLC increased its stake in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 318 shares during the period. Finally, WPG Advisers LLC acquired a new stake in shares of Genuine Parts in the 1st quarter valued at $45,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Genuine Parts

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 stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 0.42% of the company’s stock.

Genuine Parts Stock Down 0.5%

NYSE:GPC opened at $138.58 on Wednesday. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of 23.85 and a beta of 0.75. The stock has a 50-day moving average price of $136.89 and a two-hundred day moving average price of $126.52.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, equities analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts’s payout ratio is presently 70.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Evercore ISI lifted their target price on Genuine Parts from $145.00 to $148.00 and gave the company an “outperform” rating in a research note on Tuesday, August 26th. Loop Capital lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Truist Financial lifted their price objective on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. UBS Group lifted their price objective on Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.86.

About Genuine Parts

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.