Genuine Parts Company $GPC Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC grew its position in Genuine Parts Company (NYSE:GPC) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,056 shares of the specialty retailer’s stock after acquiring an additional 985 shares during the period. Cornerstone Wealth Group LLC’s holdings in Genuine Parts were worth $3,525,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC boosted its holdings in shares of Genuine Parts by 11.9% in the first quarter. Inspire Investing LLC now owns 16,745 shares of the specialty retailer’s stock valued at $1,995,000 after acquiring an additional 1,777 shares in the last quarter. Revisor Wealth Management LLC boosted its holdings in shares of Genuine Parts by 75.2% in the second quarter. Revisor Wealth Management LLC now owns 6,778 shares of the specialty retailer’s stock valued at $853,000 after acquiring an additional 2,910 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Genuine Parts by 11.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,430 shares of the specialty retailer’s stock valued at $2,657,000 after acquiring an additional 2,290 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Genuine Parts by 276.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,352,772 shares of the specialty retailer’s stock valued at $399,449,000 after acquiring an additional 2,461,497 shares in the last quarter. Finally, United Community Bank boosted its holdings in shares of Genuine Parts by 4,452.1% in the first quarter. United Community Bank now owns 16,251 shares of the specialty retailer’s stock valued at $1,936,000 after acquiring an additional 15,894 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the topic of several analyst reports. Loop Capital lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Truist Financial upped their price target on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. UBS Group upped their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday. Evercore ISI upped their price target 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, JPMorgan Chase & Co. upped their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $138.86.

Genuine Parts Price Performance

Genuine Parts stock opened at $131.64 on Tuesday. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm’s 50-day simple moving average is $137.53 and its 200 day simple moving average is $127.49. The firm has a market capitalization of $18.31 billion, a PE ratio of 22.66 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. On average, equities research analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were given a $1.03 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. Genuine Parts’s payout ratio is currently 70.91%.

Insider Transactions at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

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.