Southeast Asset Advisors LLC Acquires New Position in Genuine Parts Company $GPC

Southeast Asset Advisors LLC bought a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,270 shares of the specialty retailer's stock, valued at approximately $275,000.

• Genuine Parts: Solid Earnings But Economic Uncertainties Remain

Other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC increased its position in shares of Genuine Parts by 12,031.0% during the second quarter. Laurel Wealth Advisors LLC now owns 185,726 shares of the specialty retailer's stock worth $22,530,000 after acquiring an additional 184,195 shares during the period. Quadcap Wealth Management LLC grew its stake in Genuine Parts by 1.4% during the 2nd quarter. Quadcap Wealth Management LLC now owns 5,578 shares of the specialty retailer's stock worth $677,000 after purchasing an additional 75 shares in the last quarter. CreativeOne Wealth LLC raised its position in Genuine Parts by 10.2% in the 2nd quarter. CreativeOne Wealth LLC now owns 2,287 shares of the specialty retailer's stock valued at $277,000 after purchasing an additional 211 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Genuine Parts in the 2nd quarter valued at about $1,188,000. Finally, Weik Capital Management boosted its stake in shares of Genuine Parts by 1.2% in the 2nd quarter. Weik Capital Management now owns 9,130 shares of the specialty retailer's stock valued at $1,108,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $126.61 on Tuesday. The stock has a market capitalization of $17.61 billion, a price-to-earnings ratio of 21.79 and a beta of 0.75. The firm's fifty day simple moving average is $132.01 and its 200-day simple moving average is $130.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $143.48.

• 4 Stocks With +3% Yields and 50+ Years of Dividend Increases

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 EPS for the quarter, missing analysts' consensus estimates of $2.02 by ($0.04). Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The company's revenue for the quarter 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 forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 5th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, December 5th. Genuine Parts's dividend payout ratio (DPR) is 70.91%.

Insiders Place Their Bets

• Why Genuine Parts Company Is a Royally Good Buy Right Now

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of the business's stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares in the company, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

GPC has been the topic of several analyst reports. UBS Group raised their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, October 10th. Evercore ISI increased 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. JPMorgan Chase & Co. lifted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an "overweight" rating in a research report on Thursday, October 23rd. The Goldman Sachs Group upgraded shares of Genuine Parts from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $130.00 to $142.00 in a research note on Thursday, November 13th. Finally, Truist Financial raised their price target on Genuine Parts from $143.00 to $146.00 and gave the company a "buy" rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of "Moderate Buy" and an average price target of $148.00.

Check Out Our Latest Stock Report on GPC

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.

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