Pinnacle Financial Partners Inc Boosts Stock Position in Genuine Parts Company $GPC

Pinnacle Financial Partners Inc boosted its position in Genuine Parts Company (NYSE:GPC) by 709.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,655 shares of the specialty retailer’s stock after buying an additional 23,362 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Genuine Parts were worth $3,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. Peoples Financial Services CORP. purchased a new stake in shares of Genuine Parts in the 3rd quarter valued at $29,000. Golden State Wealth Management LLC lifted its stake in Genuine Parts by 8,833.3% in the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 265 shares during the last quarter. Concord Wealth Partners lifted its stake in Genuine Parts by 148.7% in the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 177 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Genuine Parts by 7,825.0% during the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 313 shares during the period. Finally, Cromwell Holdings LLC grew its stake in shares of Genuine Parts by 49.1% during the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 114 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 0.5%

Shares of GPC opened at $136.80 on Friday. Genuine Parts Company has a 1-year low of $104.01 and a 1-year 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. The firm’s 50-day moving average price is $127.82 and its 200-day moving average price is $131.51. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 23.55 and a beta of 0.75.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The company 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%.Genuine Parts’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period 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. Sell-side analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were given a dividend of $1.03 per share. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. Genuine Parts’s payout ratio is currently 70.91%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GPC. Evercore ISI lifted their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. UBS Group lifted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. increased 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 reissued a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. Finally, The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $130.00 to $142.00 in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.00.

Genuine Parts Company Profile

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.