Mezzasalma Advisors LLC Trims Stake in Genuine Parts Company $GPC

Mezzasalma Advisors LLC lessened its holdings in shares of Genuine Parts Company (NYSE:GPC) by 15.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,025 shares of the specialty retailer’s stock after selling 1,632 shares during the period. Mezzasalma Advisors LLC’s holdings in Genuine Parts were worth $1,095,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Genuine Parts by 70.3% during the 1st quarter. GAMMA Investing LLC now owns 3,998 shares of the specialty retailer’s stock valued at $476,000 after acquiring an additional 1,651 shares during the period. CWA Asset Management Group LLC boosted its stake in shares of Genuine Parts by 20.0% during the first quarter. CWA Asset Management Group LLC now owns 2,647 shares of the specialty retailer’s stock valued at $315,000 after purchasing an additional 441 shares during the period. State of Alaska Department of Revenue increased its stake in Genuine Parts by 1.1% in the 1st quarter. State of Alaska Department of Revenue now owns 39,279 shares of the specialty retailer’s stock worth $4,679,000 after buying an additional 425 shares during the period. Rockline Wealth Management LLC lifted its holdings in Genuine Parts by 4.3% during the 1st quarter. Rockline Wealth Management LLC now owns 27,595 shares of the specialty retailer’s stock valued at $3,288,000 after buying an additional 1,140 shares in the last quarter. Finally, Stonegate Investment Group LLC boosted its position in Genuine Parts by 2.8% in the 1st quarter. Stonegate Investment Group LLC now owns 14,510 shares of the specialty retailer’s stock valued at $1,729,000 after buying an additional 402 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Genuine Parts

In related news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the completion of the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by company insiders.

Genuine Parts Trading Down 0.4%

Shares of NYSE:GPC opened at $133.25 on Friday. The company has a market capitalization of $18.53 billion, a PE ratio of 22.93 and a beta of 0.77. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The business’s fifty day simple moving average is $137.54 and its 200-day simple moving average is $127.83.

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

Genuine Parts Dividend Announcement

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

Analysts Set New Price Targets

GPC has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. UBS Group raised 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. Evercore ISI upped their target price on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Loop Capital raised their price target on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Truist Financial upped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $138.86.

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.