Korea Investment CORP Grows Stock Holdings in Genuine Parts Company $GPC

Korea Investment CORP increased its stake in Genuine Parts Company (NYSE:GPC) by 43.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,084 shares of the specialty retailer’s stock after purchasing an additional 22,301 shares during the quarter. Korea Investment CORP owned 0.05% of Genuine Parts worth $8,987,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC lifted its holdings in shares of Genuine Parts by 2.9% during the 2nd quarter. Elevation Point Wealth Partners LLC now owns 5,135 shares of the specialty retailer’s stock valued at $623,000 after buying an additional 145 shares during the period. Employees Retirement System of Texas bought a new stake in shares of Genuine Parts in the second quarter worth $61,000. Northwest & Ethical Investments L.P. purchased a new stake in Genuine Parts during the second quarter valued at $938,000. Russell Investments Group Ltd. lifted its holdings in Genuine Parts by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 45,381 shares of the specialty retailer’s stock valued at $5,499,000 after acquiring an additional 1,502 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its position in Genuine Parts by 62.6% in the second quarter. J.W. Cole Advisors Inc. now owns 10,003 shares of the specialty retailer’s stock worth $1,213,000 after purchasing an additional 3,851 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC opened at $130.40 on Monday. The stock has a 50-day moving average price of $131.32 and a 200 day moving average price of $130.61. The stock has a market capitalization of $18.14 billion, a P/E ratio of 22.44 and a beta of 0.75. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $143.48. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78.

Genuine Parts (NYSE:GPC) last posted 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 business had revenue of $6.26 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be paid a $1.03 dividend. The ex-dividend date is Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 3.2%. Genuine Parts’s payout ratio is presently 70.91%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target 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. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a research report on Wednesday, October 8th. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and upped their target price for the company from $130.00 to $142.00 in a report on Thursday, November 13th. Truist Financial lifted their price target on shares of 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 boosted their price objective on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Insider Activity at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by company insiders.

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.