FORA Capital LLC Trims Holdings in Genuine Parts Company $GPC

Key Points

• FORA Capital LLC reduced its stake in Genuine Parts Company by 21.1%, now holding 20,778 shares valued at approximately $2.475 million.
• Several institutional investors, including Olde Wealth Management and Golden State Wealth Management, recently acquired stakes in Genuine Parts, reflecting a shift in investor interest.
• Analysts have increased their price targets for Genuine Parts, with Loop Capital raising it from $155 to $160, indicating strong investor confidence in the company's performance.

FORA Capital LLC decreased its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 21.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,778 shares of the specialty retailer's stock after selling 5,554 shares during the period. FORA Capital LLC's holdings in Genuine Parts were worth $2,475,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC increased its stake in shares of Genuine Parts by 11.7% in the first quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the specialty retailer's stock worth $280,000 after purchasing an additional 247 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Genuine Parts by 2.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 14,240 shares of the specialty retailer's stock valued at $1,697,000 after acquiring an additional 342 shares during the period. Allstate Corp boosted its position in shares of Genuine Parts by 32.6% in the first quarter. Allstate Corp now owns 5,533 shares of the specialty retailer's stock valued at $659,000 after acquiring an additional 1,361 shares during the period. Kestra Advisory Services LLC grew its stake in Genuine Parts by 1.1% in the 1st quarter. Kestra Advisory Services LLC now owns 44,868 shares of the specialty retailer's stock worth $5,346,000 after buying an additional 499 shares in the last quarter. Finally, Compound Planning Inc. increased its holdings in shares of Genuine Parts by 19.4% in the 1st quarter. Compound Planning Inc. now owns 2,315 shares of the specialty retailer's stock worth $276,000 after buying an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Wall Street Analyst Weigh In

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

Genuine Parts Trading Up 0.1%

Shares of GPC traded up $0.17 during trading hours on Friday, reaching $139.48. 675,888 shares of the company traded hands, compared to its average volume of 1,009,791. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.44. 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 company's fifty day moving average price is $130.41 and its two-hundred day moving average price is $124.18. The company has a market capitalization of $19.40 billion, a price-to-earnings ratio of 24.01 and a beta of 0.75.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. Genuine Parts's revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Equities research analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio is presently 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.