Anchor Capital Advisors LLC Sells 5,270 Shares of Genuine Parts Company $GPC

Anchor Capital Advisors LLC trimmed its holdings in shares of Genuine Parts Company (NYSE:GPC) by 2.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 261,915 shares of the specialty retailer’s stock after selling 5,270 shares during the period. Anchor Capital Advisors LLC owned approximately 0.19% of Genuine Parts worth $31,773,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new position in Genuine Parts during the 1st quarter valued at about $2,422,000. Principal Financial Group Inc. lifted its holdings in Genuine Parts by 6.9% during the 1st quarter. Principal Financial Group Inc. now owns 183,700 shares of the specialty retailer’s stock valued at $21,886,000 after purchasing an additional 11,848 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Genuine Parts by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 855,151 shares of the specialty retailer’s stock valued at $101,883,000 after purchasing an additional 10,445 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Genuine Parts by 0.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 536,944 shares of the specialty retailer’s stock valued at $63,971,000 after purchasing an additional 4,928 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Genuine Parts by 27.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 9,165 shares of the specialty retailer’s stock valued at $1,092,000 after purchasing an additional 1,957 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total value of $732,450.36. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Genuine Parts Trading Up 1.4%

GPC opened at $124.37 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $17.30 billion, a PE ratio of 21.41 and a beta of 0.75. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $143.48. The firm has a 50-day moving average price of $135.39 and a two-hundred day moving average price of $129.40.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data 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). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business posted $1.88 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, equities analysts anticipate 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 Thursday, October 2nd. Investors of record on Friday, September 5th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, September 5th. Genuine Parts’s payout ratio is 70.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GPC. Loop Capital lifted their price target 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 lifted their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Evercore ISI raised their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.33.

Genuine Parts Company 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.