Centennial Wealth Advisory LLC Makes New Investment in Genuine Parts Company $GPC

Key Points

• Centennial Wealth Advisory LLC purchased 3,840 shares of Genuine Parts Company during Q2, valued at approximately $466,000, signaling strong institutional interest in the stock.
• Genuine Parts Company reported strong earnings with an EPS of $2.10 for the last quarter, surpassing estimates, while also announcing a quarterly dividend of $1.03, yielding 3.0%.
• Analyst target prices for Genuine Parts have been raised by several firms, with Loop Capital setting a new target at $160.00, reflecting positive sentiment around the stock's performance.

Centennial Wealth Advisory LLC bought a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,840 shares of the specialty retailer's stock, valued at approximately $466,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Raleigh Capital Management Inc. increased its stake in Genuine Parts by 11.7% in the 2nd quarter. Raleigh Capital Management Inc. now owns 1,087 shares of the specialty retailer's stock worth $132,000 after acquiring an additional 114 shares during the last quarter. Invesco LLC increased its stake in Genuine Parts by 3.8% in the 2nd quarter. Invesco LLC now owns 19,150 shares of the specialty retailer's stock worth $2,323,000 after acquiring an additional 696 shares during the last quarter. Albion Financial Group UT increased its stake in Genuine Parts by 3.7% in the 2nd quarter. Albion Financial Group UT now owns 20,757 shares of the specialty retailer's stock worth $2,518,000 after acquiring an additional 749 shares during the last quarter. WD Rutherford LLC bought a new position in Genuine Parts in the 2nd quarter worth about $50,000. Finally, Brown Lisle Cummings Inc. increased its stake in Genuine Parts by 5.7% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer's stock worth $187,000 after acquiring an additional 83 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 1.1%

GPC opened at $139.26 on Tuesday. The business has a 50 day moving average of $136.79 and a 200-day moving average of $126.43. The stock has a market cap of $19.37 billion, a PE ratio of 23.97 and a beta of 0.75. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Equities research 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 will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts's payout ratio is 70.91%.

Wall Street Analyst Weigh In

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

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.42% of the company's stock.

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.

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