Vest Financial LLC Has $55.79 Million Stake in Genuine Parts Company $GPC

Key Points

• Vest Financial LLC has reduced its stake in Genuine Parts Company (NYSE:GPC) by 1.7%, now owning approximately 459,904 shares worth $55.79 million.
• In recent trading, Genuine Parts' stock fell by 0.9%, with a current trading price of $130.34 and a market capitalization of $18.13 billion.
• The company reported solid earnings for the latest quarter, with a revenue of $6.16 billion and an EPS of $2.10, exceeding analyst estimates.

Vest Financial LLC decreased its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 459,904 shares of the specialty retailer's stock after selling 7,761 shares during the quarter. Vest Financial LLC owned about 0.33% of Genuine Parts worth $55,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Pzena Investment Management LLC grew its position in shares of Genuine Parts by 98.0% during the 2nd quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer's stock worth $72,307,000 after buying an additional 295,064 shares during the period. Bill Few Associates Inc. grew its position in Genuine Parts by 5.8% in the 2nd quarter. Bill Few Associates Inc. now owns 3,489 shares of the specialty retailer's stock valued at $423,000 after purchasing an additional 192 shares during the period. GW Henssler & Associates Ltd. grew its position in Genuine Parts by 17.6% in the 2nd quarter. GW Henssler & Associates Ltd. now owns 6,887 shares of the specialty retailer's stock valued at $835,000 after purchasing an additional 1,030 shares during the period. CWM LLC grew its position in Genuine Parts by 108.6% in the 2nd quarter. CWM LLC now owns 8,012 shares of the specialty retailer's stock valued at $972,000 after purchasing an additional 4,172 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Genuine Parts in the 2nd quarter valued at $105,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Insider Activity at Genuine Parts

In other 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company's stock.

Genuine Parts Stock Down 0.9%

Shares of NYSE GPC opened at $130.34 on Monday. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $144.29. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 22.43 and a beta of 0.77. The business has a 50-day moving average of $137.52 and a 200-day moving average of $127.40.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company 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 firm earned $2.44 earnings per share. Genuine Parts's revenue was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share 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 issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. Genuine Parts's payout ratio is presently 70.91%.

Analyst Ratings Changes

GPC has been the topic of a number of analyst reports. Evercore ISI lifted their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Genuine Parts in a research note on Wednesday, October 8th. Truist Financial lifted their target price on 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 lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, UBS Group lifted their target price on Genuine Parts from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Friday. One 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts Company (NYSE:GPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.