HB Wealth Management LLC Sells 34,531 Shares of Genuine Parts Company $GPC

Key Points

• HB Wealth Management LLC reduced its stake in Genuine Parts Company by 43.7%, selling 34,531 shares during the 2nd quarter, leaving them with holdings worth approximately $5.4 million.
• A number of analysts have increased their target prices for Genuine Parts, with loop capital now at $160 and JPMorgan Chase at $145, indicating a positive outlook for the stock.
• Genuine Parts recently declared a quarterly dividend of $1.03 to be paid out on October 2nd, representing an annualized yield of 3.0%.

HB Wealth Management LLC cut its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 43.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,563 shares of the specialty retailer's stock after selling 34,531 shares during the quarter. HB Wealth Management LLC's holdings in Genuine Parts were worth $5,406,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rossby Financial LCC bought a new position in shares of Genuine Parts in the first quarter valued at about $25,000. Olde Wealth Management LLC bought a new position in shares of Genuine Parts in the first quarter valued at about $27,000. North Capital Inc. bought a new position in shares of Genuine Parts in the first quarter valued at about $28,000. Golden State Wealth Management LLC increased its position in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after acquiring an additional 318 shares during the period. Finally, WPG Advisers LLC bought a new position in Genuine Parts during the first quarter worth about $45,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GPC has been the topic of a number of analyst reports. Loop Capital increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Truist Financial increased their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group increased their target price on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. One equities research 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.86.

Insider Activity

In other news, EVP Naveen Krishna sold 5,303 shares of the business'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 value of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares in the company, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.42% of the company's stock.

Genuine Parts Stock Down 0.5%

NYSE:GPC opened at $138.58 on Wednesday. The firm's 50 day simple moving average is $136.89 and its 200 day simple moving average is $126.52. 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 one year low of $104.01 and a one year high of $144.29. The company has a market cap of $19.28 billion, a PE ratio of 23.85 and a beta of 0.75.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. The business had revenue of $6.16 billion for 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 firm's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

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