QRG Capital Management Inc. Purchases 1,419 Shares of Genuine Parts Company $GPC

QRG Capital Management Inc. increased its position in shares of Genuine Parts Company (NYSE:GPC) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,787 shares of the specialty retailer’s stock after acquiring an additional 1,419 shares during the quarter. QRG Capital Management Inc.’s holdings in Genuine Parts were worth $1,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Diversified Trust Co boosted its stake in Genuine Parts by 1.8% during the 2nd quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock worth $562,000 after acquiring an additional 83 shares during the last quarter. Brown Lisle Cummings Inc. raised its holdings in Genuine Parts by 5.7% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock worth $187,000 after buying an additional 83 shares during the period. Oak Asset Management LLC raised its holdings in Genuine Parts by 0.6% during the 2nd quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock worth $1,633,000 after buying an additional 85 shares during the period. Horizon Investments LLC raised its holdings in Genuine Parts by 4.8% during the 1st quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer’s stock worth $238,000 after buying an additional 91 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in Genuine Parts by 2.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock worth $402,000 after buying an additional 93 shares during the period. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares in the company, valued at approximately $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.

Genuine Parts Price Performance

NYSE GPC opened at $135.97 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The company has a market capitalization of $18.91 billion, a PE ratio of 23.40 and a beta of 0.77. The firm’s 50 day moving average is $137.39 and its 200-day moving average is $127.08.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period last year, the company earned $2.44 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Friday, September 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, September 5th. Genuine Parts’s payout ratio is presently 70.91%.

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.