Farther Finance Advisors LLC Has $1.25 Million Stock Holdings in Genuine Parts Company $GPC

Key Points

• Farther Finance Advisors LLC increased its stake in Genuine Parts Company (GPC) by 139.8%, holding a total of 10,270 shares valued at approximately $1.25 million.
• In recent analyst upgrades, JPMorgan raised the target price for GPC from $134 to $145, while other firms such as UBS and Truist also increased their ratings, signaling a positive outlook for the stock.
• Genuine Parts reported earnings of $2.10 per share for its latest quarter, exceeding estimates and reflecting a 3.4% year-over-year revenue increase, along with a quarterly dividend announcement of $1.03 per share.

Farther Finance Advisors LLC increased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 139.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,270 shares of the specialty retailer's stock after purchasing an additional 5,988 shares during the period. Farther Finance Advisors LLC's holdings in Genuine Parts were worth $1,246,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Inspire Investing LLC grew its stake in Genuine Parts by 11.9% during the first quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer's stock worth $1,995,000 after purchasing an additional 1,777 shares during the period. Cornerstone Wealth Group LLC acquired a new stake in Genuine Parts during the first quarter worth approximately $3,344,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Genuine Parts by 11.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer's stock worth $2,657,000 after purchasing an additional 2,290 shares during the period. Goldman Sachs Group Inc. grew its stake in 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 worth $399,449,000 after purchasing an additional 2,461,497 shares during the period. Finally, United Community Bank grew its stake in Genuine Parts by 4,452.1% during the first quarter. United Community Bank now owns 16,251 shares of the specialty retailer's stock worth $1,936,000 after purchasing an additional 15,894 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analyst Weigh In

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

Genuine Parts Stock Up 0.3%

GPC stock opened at $138.40 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $19.25 billion, a PE ratio of 23.82 and a beta of 0.75. The stock's 50 day moving average is $135.61 and its 200-day moving average is $126.00. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $144.29.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 22.41% and a net margin of 3.40%.Genuine Parts's revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Sell-side analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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 paid a $1.03 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. Genuine Parts's payout ratio is presently 70.91%.

Genuine Parts 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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