US Bancorp DE Reduces Stock Position in Genuine Parts Company $GPC

Key Points

• US Bancorp DE has reduced its stock position in Genuine Parts Company by 22.3% in the second quarter, now holding 24,800 shares, valued at approximately $3 million.
• Genuine Parts reported a quarterly earnings per share (EPS) of $2.10, surpassing expectations, with quarterly revenue increasing by 3.4% year-over-year.
• The company declared a quarterly dividend of $1.03 per share, providing an annualized yield of 3.1% to its investors.

US Bancorp DE reduced its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 22.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,800 shares of the specialty retailer's stock after selling 7,122 shares during the period. US Bancorp DE's holdings in Genuine Parts were worth $3,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GPC. GAMMA Investing LLC boosted its stake in shares of Genuine Parts by 70.3% during the 1st quarter. GAMMA Investing LLC now owns 3,998 shares of the specialty retailer's stock worth $476,000 after purchasing an additional 1,651 shares during the period. Mission Wealth Management LP purchased a new position in shares of Genuine Parts during the 1st quarter worth about $206,000. Janney Montgomery Scott LLC boosted its stake in shares of Genuine Parts by 14.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 321,491 shares of the specialty retailer's stock worth $38,303,000 after purchasing an additional 40,346 shares during the period. Great Lakes Retirement Inc. boosted its stake in shares of Genuine Parts by 6.6% during the 1st quarter. Great Lakes Retirement Inc. now owns 10,781 shares of the specialty retailer's stock worth $1,295,000 after purchasing an additional 670 shares during the period. Finally, Berkshire Bank boosted its stake in shares of Genuine Parts by 15.4% during the 1st quarter. Berkshire Bank now owns 2,547 shares of the specialty retailer's stock worth $303,000 after purchasing an additional 339 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 1.4%

NYSE:GPC opened at $133.58 on Wednesday. Genuine Parts Company has a one year low of $104.01 and a one year high of $144.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The firm has a market cap of $18.58 billion, a P/E ratio of 22.99 and a beta of 0.77. The firm has a 50-day simple moving average of $137.54 and a 200-day simple moving average of $127.53.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The company's quarterly revenue was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Equities analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, September 5th. Genuine Parts's payout ratio is 70.91%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Loop Capital lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Truist Financial lifted their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI lifted their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. 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. According to MarketBeat.com, Genuine Parts presently has a consensus rating of "Hold" and an average target price of $138.86.

Insider Activity at Genuine Parts

In related 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 transaction of $732,450.36. Following the completion of the transaction, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. The trade was a 16.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.42% of the stock is currently owned by company insiders.

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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