Genuine Parts Company $GPC Shares Acquired by Cwm LLC

Key Points

• Cwm LLC significantly increased its stake in Genuine Parts Company by 108.6% during the second quarter, acquiring 4,172 additional shares to hold a total of 8,012 shares valued at approximately $972,000.
• Various institutional investors have ramped up their holdings, with Goldman Sachs boosting its position by 276.2% to own over 3.35 million shares worth $399 million.
• Genuine Parts Company announced quarterly earnings of $1.98 per share, falling short of estimates, despite revenue exceeding expectations at $6.26 billion, up 4.9% year-over-year.

Cwm LLC grew its position in Genuine Parts Company (NYSE:GPC - Free Report) by 108.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,012 shares of the specialty retailer's stock after buying an additional 4,172 shares during the quarter. Cwm LLC's holdings in Genuine Parts were worth $972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GPC. Goldman Sachs Group Inc. grew its stake 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 buying an additional 2,461,497 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Genuine Parts by 377.3% in the second 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. grew its stake 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 buying an additional 498,469 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Genuine Parts in the first quarter valued at $41,646,000. Finally, Pzena Investment Management LLC acquired a new stake in shares of Genuine Parts in the first quarter valued at $35,860,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price objective on Genuine Parts from $135.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. Evercore ISI lifted their target price on Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. Truist Financial set a $146.00 target price on Genuine Parts in a report on Tuesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Genuine Parts in a report on Wednesday, October 8th. Finally, Loop Capital lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $139.29.

Genuine Parts Stock Up 1.9%

Shares of NYSE GPC opened at $134.37 on Wednesday. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of 23.13 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. The business has a 50-day moving average of $137.50 and a two-hundred day moving average of $128.04. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $143.48.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.02 by ($0.04). The business had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.12 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. On average, analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts's payout ratio is 70.91%.

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 stock was 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 directly owned 26,112 shares of the company's stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by company insiders.

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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