Kanawha Capital Management LLC Grows Position in Genuine Parts Company $GPC

Key Points

• Kanawha Capital Management LLC increased its stake in Genuine Parts Company by 67.0% in Q2, owning 35,854 shares valued at approximately $4.35 million.
• Insider transactions revealed that Naveen Krishna, EVP, sold 5,303 shares for around $732,450, decreasing their ownership by 16.88%.
• Genuine Parts declared a quarterly dividend of $1.03 per share, representing a yield of 3.1% with a payout ratio of 70.91%.

Kanawha Capital Management LLC increased its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 67.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,854 shares of the specialty retailer's stock after buying an additional 14,379 shares during the quarter. Kanawha Capital Management LLC's holdings in Genuine Parts were worth $4,349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rossby Financial LCC purchased a new position in shares of Genuine Parts in the 1st quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new position in shares of Genuine Parts in the 1st quarter valued at approximately $27,000. North Capital Inc. purchased a new position in shares of Genuine Parts in the 1st quarter valued at approximately $28,000. Concord Wealth Partners grew its stake in shares of Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer's stock valued at $36,000 after purchasing an additional 177 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after buying an additional 318 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business's 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 owned 26,112 shares of the company's stock, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.42% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $133.25 on Friday. The company has a market cap of $18.53 billion, a P/E ratio of 22.93 and a beta of 0.77. 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 Company has a 52 week low of $104.01 and a 52 week high of $144.29. The business has a fifty day simple moving average of $137.54 and a 200-day simple moving average of $127.77.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data 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 business 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%.The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Equities research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th were given 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%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GPC. Evercore ISI lifted their price target on Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Loop Capital lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Truist Financial lifted their price target on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Finally, UBS Group lifted their price target on Genuine Parts from $135.00 to $140.00 and gave the company a "neutral" rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Genuine Parts has a consensus rating of "Hold" and an average price target of $138.86.

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.

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