Apollon Wealth Management LLC Sells 716 Shares of Genuine Parts Company $GPC

Apollon Wealth Management LLC lowered its stake in shares of Genuine Parts Company (NYSE:GPC) by 20.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,734 shares of the specialty retailer’s stock after selling 716 shares during the quarter. Apollon Wealth Management LLC’s holdings in Genuine Parts were worth $332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Genuine Parts by 276.2% in 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 last quarter. Charles Schwab Investment Management Inc. raised its position in Genuine Parts by 4.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,009,583 shares of the specialty retailer’s stock worth $358,387,000 after purchasing an additional 119,653 shares during the period. JPMorgan Chase & Co. raised its position in Genuine Parts by 22.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock worth $327,974,000 after purchasing an additional 498,469 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Genuine Parts by 4.7% during 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 buying an additional 79,253 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Genuine Parts by 3.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,427,507 shares of the specialty retailer’s stock valued at $170,073,000 after buying an additional 48,139 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GPC shares. Truist Financial boosted their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Loop Capital lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Evercore ISI raised their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Finally, UBS Group upped their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $138.86.

Insider Activity

In other news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction 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 transaction, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $133.25 on Friday. The firm has a market cap of $18.53 billion, a P/E ratio of 22.93 and a beta of 0.77. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29. The stock’s fifty day moving average price is $137.54 and its 200-day moving average price is $127.77.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the prior year, the business earned $2.44 EPS. The firm’s quarterly 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. On average, equities research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

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