Drucker Wealth 3.0 LLC Lowers Stake in Genuine Parts Company $GPC

Key Points

• Drucker Wealth 3.0 LLC reduced its stake in Genuine Parts Company by 28.1%, now owning 14,732 shares valued at approximately $1.85 million following the sale of 5,768 shares in the second quarter.
• Genuine Parts Company reported quarterly earnings of $2.10 per share, exceeding analyst estimates of $2.08, with revenues of $6.16 billion, reflecting a 3.4% increase from the previous year.
• The company recently declared a quarterly dividend of $1.03 per share, resulting in an annualized dividend yield of 3.2% and a payout ratio of 70.91%.

Drucker Wealth 3.0 LLC cut its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 28.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,732 shares of the specialty retailer's stock after selling 5,768 shares during the quarter. Drucker Wealth 3.0 LLC's holdings in Genuine Parts were worth $1,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GPC. Goldman Sachs Group Inc. lifted its stake in 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 valued at $399,449,000 after buying an additional 2,461,497 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Genuine Parts by 377.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer's stock valued at $113,233,000 after buying an additional 737,836 shares in the last quarter. JPMorgan Chase & Co. lifted its stake 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 valued at $327,974,000 after buying an additional 498,469 shares in the last quarter. Nuveen LLC purchased a new position in Genuine Parts in the 1st quarter valued at about $41,646,000. Finally, Pzena Investment Management LLC purchased a new position in Genuine Parts in the 1st quarter valued at about $35,860,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.9%

Shares of NYSE GPC opened at $130.34 on Friday. The company has a 50 day simple moving average of $137.52 and a 200-day simple moving average of $127.29. The company has a market capitalization of $18.13 billion, a P/E ratio of 22.43 and a beta of 0.77. 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 1 year low of $104.01 and a 1 year high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The business 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 business's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities research analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

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 dividend of $1.03 per share. The ex-dividend date was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.2%. Genuine Parts's dividend payout ratio (DPR) is currently 70.91%.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target 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. Weiss Ratings reiterated a "hold (c)" rating on shares of Genuine Parts in a report on Wednesday. Loop Capital increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. UBS Group increased their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a "neutral" rating in a report on Friday. Finally, Evercore ISI increased their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company 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 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 transaction of $732,450.36. Following the completion of the sale, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

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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