Genuine Parts Company $GPC Holdings Lowered by Fiduciary Family Office LLC

Fiduciary Family Office LLC trimmed its stake in shares of Genuine Parts Company (NYSE:GPC) by 28.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,546 shares of the specialty retailer’s stock after selling 1,001 shares during the quarter. Fiduciary Family Office LLC’s holdings in Genuine Parts were worth $309,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GPC. Goldman Sachs Group Inc. lifted its holdings in shares of Genuine Parts by 276.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after purchasing an additional 2,461,497 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Genuine Parts by 377.3% during the second quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer’s stock valued at $113,233,000 after purchasing an additional 737,836 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Genuine Parts by 22.1% during the first quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer’s stock valued at $327,974,000 after purchasing an additional 498,469 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Genuine Parts during the first quarter valued at $41,646,000. Finally, Pzena Investment Management LLC purchased a new stake in shares of Genuine Parts during the first quarter valued at $35,860,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

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

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

Genuine Parts Dividend Announcement

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

Insiders Place Their Bets

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company’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 transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GPC shares. Truist Financial set a $146.00 target price on Genuine Parts in a report on Tuesday. JPMorgan Chase & Co. upped their price target on Genuine Parts from $134.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group upped their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Finally, Loop Capital upped their price target on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One 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, the stock presently has an average rating of “Hold” and an average target price of $139.29.

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.