Callan Family Office LLC boosted its position in Genuine Parts Company (NYSE:GPC - Free Report) by 110.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,760 shares of the specialty retailer's stock after purchasing an additional 1,977 shares during the quarter. Callan Family Office LLC's holdings in Genuine Parts were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in GPC. Goldman Sachs Group Inc. raised 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 purchasing an additional 2,461,497 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Genuine Parts by 377.3% during 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 acquiring an additional 737,836 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Genuine Parts by 22.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,752,845 shares of the specialty retailer's stock valued at $327,974,000 after acquiring an additional 498,469 shares during the last quarter. Nuveen LLC acquired a new position in shares of Genuine Parts during the 1st quarter valued at about $41,646,000. Finally, Pzena Investment Management LLC acquired a new position in shares of Genuine Parts during the 1st quarter valued at about $35,860,000. Institutional investors and hedge funds own 78.83% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Loop Capital upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Evercore ISI upped their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. UBS Group boosted their target price on Genuine Parts from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their target price on Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" 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 issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $138.86.
Check Out Our Latest Report on Genuine Parts
Genuine Parts Stock Up 1.4%
NYSE GPC opened at $133.58 on Wednesday. The stock has a market cap of $18.58 billion, a PE ratio of 22.99 and a beta of 0.77. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $144.29. The business has a 50 day moving average price of $137.54 and a two-hundred day moving average price of $127.53. 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 quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.Genuine Parts's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. As a group, sell-side analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.
Genuine Parts Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts's dividend payout ratio is currently 70.91%.
Insider Activity at Genuine Parts
In other news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction that occurred on 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 represents a 16.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.42% of the company's stock.
Genuine Parts Profile
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Free Report)
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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