Forsta AP Fonden Decreases Stock Position in Genuine Parts Company $GPC

Forsta AP Fonden lessened its position in shares of Genuine Parts Company (NYSE:GPC) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,300 shares of the specialty retailer’s stock after selling 1,900 shares during the period. Forsta AP Fonden’s holdings in Genuine Parts were worth $3,554,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GPC. Golden State Wealth Management LLC raised its stake in Genuine Parts by 8,833.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 265 shares during the period. Concord Wealth Partners increased its stake in shares of Genuine Parts by 148.7% in the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 177 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Genuine Parts by 7,825.0% in the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 313 shares during the period. Cromwell Holdings LLC raised its position in shares of Genuine Parts by 49.1% in the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 114 shares during the period. Finally, Quaker Wealth Management LLC lifted its stake in shares of Genuine Parts by 11,533.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 346 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.3%

Genuine Parts stock opened at $127.30 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48. The stock has a market cap of $17.71 billion, a P/E ratio of 21.91 and a beta of 0.75. The firm’s fifty day moving average price is $133.68 and its 200-day moving average price is $129.91.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. Genuine Parts’s quarterly revenue was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Insider Activity at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the company’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 value of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPC. 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 research note on Thursday, July 24th. Truist Financial raised their price target on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Genuine Parts in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, UBS Group raised 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, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Genuine Parts has a consensus rating of “Moderate Buy” and an average target price of $148.00.

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.