Country Club Bank Has $4.36 Million Stake in Genuine Parts Company $GPC

Key Points

• Country Club Bank reduced its stake in Genuine Parts Company by 23.2%, holding 36,159 shares worth approximately $4.36 million as of its latest SEC filing.
• Genuine Parts announced a quarterly dividend of $1.03 per share, yielding 3.0%, with a payout ratio of 70.91%.
• Analysts have raised their price targets for Genuine Parts, with Loop Capital's new target at $160.00 and JPMorgan's at $145.00, reflecting a generally positive outlook despite some economic uncertainties.

Country Club Bank trimmed its position in Genuine Parts Company (NYSE:GPC - Free Report) by 23.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 36,159 shares of the specialty retailer's stock after selling 10,941 shares during the period. Country Club Bank's holdings in Genuine Parts were worth $4,356,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co grew its position in shares of Genuine Parts by 1.8% during the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer's stock worth $562,000 after buying an additional 83 shares during the period. Brown Lisle Cummings Inc. grew its holdings in Genuine Parts by 5.7% during 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 period. Oak Asset Management LLC raised its position in shares of Genuine Parts by 0.6% during the 2nd quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer's stock valued at $1,633,000 after acquiring an additional 85 shares during the last quarter. Horizon Investments LLC lifted its stake in shares of Genuine Parts by 4.8% in the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock valued at $238,000 after purchasing an additional 91 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in shares of Genuine Parts by 2.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after purchasing an additional 93 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Loop Capital upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Evercore ISI upped their price target on Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Genuine Parts in a research note on Saturday, September 27th. JPMorgan Chase & Co. upped their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, UBS Group increased their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of "Hold" and a consensus price target of $138.14.

Insider Buying and Selling at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Genuine Parts Stock Performance

Shares of GPC stock opened at $138.56 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company's 50 day moving average price is $137.34 and its two-hundred day moving average price is $127.02. The company has a market capitalization of $19.27 billion, a P/E ratio of 23.85 and a beta of 0.77.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 5th. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.