Lecap Asset Management Ltd. Buys New Stake in Genuine Parts Company $GPC

Key Points

• Lecap Asset Management Ltd. acquired a new stake in Genuine Parts Company, purchasing 5,360 shares valued at approximately $650,000.
• Genuine Parts Company recently posted quarterly earnings of $2.10 EPS, exceeding analysts' expectations and reporting a revenue of $6.16 billion.
• The stock has received multiple upgrades from brokerages, with target prices increased by several firms, indicating a general consensus of a Moderate Buy rating.

Lecap Asset Management Ltd. purchased a new stake in Genuine Parts Company (NYSE:GPC - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 5,360 shares of the specialty retailer's stock, valued at approximately $650,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Rossby Financial LCC purchased a new position in shares of Genuine Parts during the first quarter valued at about $25,000. Olde Wealth Management LLC purchased a new position in Genuine Parts during the 1st quarter valued at approximately $27,000. North Capital Inc. bought a new stake in Genuine Parts in the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its position in shares of Genuine Parts by 7,950.0% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock valued at $38,000 after acquiring an additional 318 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Genuine Parts in the first quarter valued at $45,000. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GPC. Truist Financial lifted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Loop Capital boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. UBS Group upped their price objective on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted 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. Finally, Evercore ISI boosted their target price on Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $138.14.

Insider Buying and Selling

In related news, EVP Naveen Krishna sold 5,303 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.42% of the stock is owned by corporate insiders.

Genuine Parts Stock Up 1.6%

Shares of NYSE:GPC opened at $140.42 on Friday. The firm has a market capitalization of $19.53 billion, a PE ratio of 24.17 and a beta of 0.77. The business has a 50 day simple moving average of $137.11 and a two-hundred day simple moving average of $126.72. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $144.29. 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 (NYSE:GPC - Get Free Report) last issued 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. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates 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 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, equities analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were issued a $1.03 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. Genuine Parts's dividend payout ratio is presently 70.91%.

About Genuine Parts

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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