HB Wealth Management LLC Has $10.77 Million Holdings in Genuine Parts Company $GPC

by · The Cerbat Gem

HB Wealth Management LLC lifted its stake in shares of Genuine Parts Company (NYSE:GPC – Free Report) by 74.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,715 shares of the specialty retailer’s stock after acquiring an additional 33,152 shares during the period. HB Wealth Management LLC’s holdings in Genuine Parts were worth $10,771,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Genuine Parts by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock worth $2,099,776,000 after purchasing an additional 260,787 shares in the last quarter. State Street Corp boosted its position in shares of Genuine Parts by 0.9% during the second quarter. State Street Corp now owns 7,797,180 shares of the specialty retailer’s stock worth $953,779,000 after buying an additional 73,361 shares during the period. Geode Capital Management LLC boosted its position in shares of Genuine Parts by 1.2% during the second quarter. Geode Capital Management LLC now owns 3,511,008 shares of the specialty retailer’s stock worth $424,367,000 after buying an additional 40,970 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Genuine Parts by 2.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,080,251 shares of the specialty retailer’s stock worth $373,425,000 after buying an additional 70,668 shares in the last quarter. Finally, Norges Bank acquired a new stake in Genuine Parts in the 2nd quarter valued at approximately $211,661,000. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GPC shares. Truist Financial upped their price target on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their target price for the company from $130.00 to $142.00 in a research report on Thursday, November 13th. UBS Group lifted their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Evercore ISI increased their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Moderate Buy” and an average target price of $148.00.

Read Our Latest Analysis on Genuine Parts

Genuine Parts Stock Performance

Shares of GPC stock opened at $126.69 on Friday. The company has a fifty day moving average price of $126.89 and a two-hundred day moving average price of $130.96. Genuine Parts Company has a one year low of $104.01 and a one year high of $143.48. The stock has a market cap of $17.62 billion, a P/E ratio of 21.81 and a beta of 0.75. 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 (NYSE:GPC – Get Free Report) last posted 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). The business had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.12 billion. Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, equities analysts predict that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

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

Genuine Parts Profile

(Free Report)

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.

Further Reading

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