iSAM Funds UK Ltd Buys 6,832 Shares of Genuine Parts Company $GPC

iSAM Funds UK Ltd raised its stake in Genuine Parts Company (NYSE:GPC) by 331.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,892 shares of the specialty retailer’s stock after purchasing an additional 6,832 shares during the quarter. iSAM Funds UK Ltd’s holdings in Genuine Parts were worth $1,079,000 as of its most recent filing with the Securities & Exchange Commission.

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

Genuine Parts Stock Performance

NYSE:GPC opened at $126.49 on Wednesday. The company has a market capitalization of $17.60 billion, a P/E ratio of 21.77 and a beta of 0.74. The business has a fifty day simple moving average of $130.07 and a two-hundred day simple moving average of $130.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $143.48.

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

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is currently 70.91%.

Insider Buying and Selling at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the firm’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 completion of the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GPC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and upped their target price for the company from $130.00 to $142.00 in a report on Thursday, November 13th. Truist Financial increased their price target on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Evercore ISI raised their target price on Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.