Genuine Parts Company $GPC Stake Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Genuine Parts Company (NYSE:GPC) by 17.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 17,852 shares of the specialty retailer’s stock after selling 3,767 shares during the period. Nisa Investment Advisors LLC’s holdings in Genuine Parts were worth $2,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Genuine Parts by 276.2% in 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 acquiring an additional 2,461,497 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genuine Parts by 4.1% in the first 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Genuine Parts by 22.1% in the first 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 in the last quarter. Dimensional Fund Advisors LP boosted 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 acquiring an additional 79,253 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Genuine Parts by 3.5% in 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 acquiring an additional 48,139 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GPC has been the subject of several recent analyst reports. Truist Financial increased their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Evercore ISI raised their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. UBS Group raised their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. upped their target price on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Insider Buying and Selling

In related news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were 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 owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Genuine Parts Trading Down 0.6%

Genuine Parts stock opened at $128.38 on Friday. The company has a 50 day moving average price of $136.59 and a 200 day moving average price of $129.01. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $143.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The firm has a market capitalization of $17.86 billion, a price-to-earnings ratio of 22.10 and a beta of 0.77.

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 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 firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the prior year, the business posted $1.88 EPS. The company’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. Research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The company 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 3.2%. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

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.