Shell Asset Management Co. Acquires 7,452 Shares of Genuine Parts Company $GPC

Key Points

• Shell Asset Management Co. increased its holdings in Genuine Parts Company by 118.1%, acquiring an additional 7,452 shares, bringing its total to 13,764 shares valued at $1,670,000.
• Genuine Parts reported quarterly earnings with an EPS of $2.10, exceeding expectations, and a revenue of $6.16 billion, which was above analysts' forecasts.
• The company recently declared a quarterly dividend of $1.03 per share, with an annualized yield of 3.1% and a payout ratio of 70.91%.

Shell Asset Management Co. raised its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 118.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,764 shares of the specialty retailer's stock after purchasing an additional 7,452 shares during the quarter. Shell Asset Management Co.'s holdings in Genuine Parts were worth $1,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. Diversified Trust Co lifted its holdings in shares of Genuine Parts by 1.8% during the second quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer's stock worth $562,000 after purchasing an additional 83 shares during the period. Brown Lisle Cummings Inc. lifted its holdings in shares of Genuine Parts by 5.7% during the second quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer's stock worth $187,000 after purchasing an additional 83 shares during the period. Oak Asset Management LLC lifted its holdings in shares of Genuine Parts by 0.6% during the second quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer's stock worth $1,633,000 after purchasing an additional 85 shares during the period. Horizon Investments LLC lifted its holdings in shares of Genuine Parts by 4.8% during the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer's stock worth $238,000 after purchasing an additional 91 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Genuine Parts by 2.8% during the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock worth $402,000 after purchasing an additional 93 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 1.7%

Genuine Parts stock opened at $133.74 on Thursday. The stock has a market capitalization of $18.60 billion, a PE ratio of 23.02 and a beta of 0.77. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29. The business has a 50 day simple moving average of $137.42 and a 200-day simple moving average of $127.13. 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 posted 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 analysts' expectations 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 was up 3.4% compared to the same quarter last year. During the same period 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. On average, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were given 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 3.1%. Genuine Parts's payout ratio is 70.91%.

Insider Activity at Genuine Parts

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 stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the completion of the sale, the executive vice president directly owned 26,112 shares in the company, valued at $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of research reports. Truist Financial lifted their target price on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Evercore ISI boosted their price target on Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Genuine Parts in a report on Wednesday. Finally, Loop Capital boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $138.14.

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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