Genuine Parts Company $GPC Shares Purchased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC raised its stake in Genuine Parts Company (NYSE:GPC) by 10.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,347 shares of the specialty retailer’s stock after acquiring an additional 311 shares during the period. Checchi Capital Advisers LLC’s holdings in Genuine Parts were worth $406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rossby Financial LCC acquired a new stake in Genuine Parts in the first quarter worth $25,000. Olde Wealth Management LLC bought a new position in shares of Genuine Parts during the first quarter worth about $27,000. North Capital Inc. bought a new position in shares of Genuine Parts during the first quarter worth about $28,000. Golden State Wealth Management LLC increased its holdings in shares of Genuine Parts by 7,950.0% in the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 318 shares during the period. Finally, Cromwell Holdings LLC lifted its position in Genuine Parts by 49.1% in the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 114 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Naveen Krishna sold 5,303 shares of the firm’s 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 in the company, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a research report on Saturday, September 27th. UBS Group increased their price objective on Genuine Parts from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Loop Capital raised their target price on Genuine Parts from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, Truist Financial increased their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.14.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $138.56 on Tuesday. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 23.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.79, 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 $144.29. The stock’s 50 day moving average price is $137.34 and its 200 day moving average price is $127.02.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%.The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period last year, the firm earned $2.44 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Equities research 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. Shareholders of record on Friday, September 5th were given a $1.03 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.12 annualized dividend and a yield of 3.0%. Genuine Parts’s payout ratio is 70.91%.

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.