Geneos Wealth Management Inc. Sells 5,345 Shares of Genuine Parts Company $GPC

Geneos Wealth Management Inc. lowered its holdings in shares of Genuine Parts Company (NYSE:GPC) by 84.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 965 shares of the specialty retailer’s stock after selling 5,345 shares during the period. Geneos Wealth Management Inc.’s holdings in Genuine Parts were worth $134,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in Genuine Parts during the second quarter valued at about $211,661,000. Federated Hermes Inc. purchased a new stake in Genuine Parts during the 2nd quarter valued at about $107,015,000. Assenagon Asset Management S.A. grew its position in Genuine Parts by 377.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 933,418 shares of the specialty retailer’s stock worth $113,233,000 after acquiring an additional 737,836 shares during the last quarter. Nomura Holdings Inc. increased its stake in Genuine Parts by 142.1% in the 2nd quarter. Nomura Holdings Inc. now owns 529,330 shares of the specialty retailer’s stock worth $64,213,000 after purchasing an additional 310,715 shares during the period. Finally, Pzena Investment Management LLC lifted its position in Genuine Parts by 98.0% in the second quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer’s stock valued at $72,307,000 after purchasing an additional 295,064 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Up 0.7%

GPC stock opened at $129.26 on Tuesday. The company has a market capitalization of $17.98 billion, a price-to-earnings ratio of 22.25 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The business’s 50 day moving average price is $127.03 and its two-hundred day moving average price is $131.23. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48.

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

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GPC shares. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and increased their target price for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. Truist Financial raised their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, UBS Group increased their price objective on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.00.

About Genuine Parts

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.