Avidian Wealth Enterprises LLC Boosts Holdings in Genuine Parts Company $GPC

Avidian Wealth Enterprises LLC grew its position in shares of Genuine Parts Company (NYSE:GPC) by 3.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,577 shares of the specialty retailer’s stock after purchasing an additional 82 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Genuine Parts were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Genuine Parts by 0.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 44,343 shares of the specialty retailer’s stock valued at $5,359,000 after purchasing an additional 182 shares during the period. LMG Wealth Partners LLC boosted its stake in Genuine Parts by 33.8% during the 2nd quarter. LMG Wealth Partners LLC now owns 9,198 shares of the specialty retailer’s stock valued at $1,116,000 after acquiring an additional 2,323 shares during the last quarter. TrueMark Investments LLC boosted its stake in Genuine Parts by 8.7% during the 2nd quarter. TrueMark Investments LLC now owns 26,147 shares of the specialty retailer’s stock valued at $3,172,000 after acquiring an additional 2,100 shares during the last quarter. Kanawha Capital Management LLC grew its holdings in Genuine Parts by 67.0% during the 2nd quarter. Kanawha Capital Management LLC now owns 35,854 shares of the specialty retailer’s stock worth $4,349,000 after acquiring an additional 14,379 shares in the last quarter. Finally, VELA Investment Management LLC grew its holdings in Genuine Parts by 12.9% during the 2nd quarter. VELA Investment Management LLC now owns 4,361 shares of the specialty retailer’s stock worth $529,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Activity

In other news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction 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 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GPC shares. Truist Financial boosted their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. Evercore ISI boosted their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. UBS Group boosted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and a consensus price target of $142.50.

Genuine Parts Stock Performance

Genuine Parts stock opened at $132.73 on Thursday. The company has a market cap of $18.46 billion, a PE ratio of 22.84 and a beta of 0.77. The company has a fifty day moving average price of $137.39 and a two-hundred day moving average price of $128.07. 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 Company has a 12 month low of $104.01 and a 12 month high of $143.48.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a return on equity of 22.94% and a net margin of 3.36%.The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared 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 3.1%. Genuine Parts’s payout ratio is 70.91%.

Genuine Parts 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.