Cerro Pacific Wealth Advisors LLC Has $674,000 Stock Position in Genuine Parts Company $GPC

Cerro Pacific Wealth Advisors LLC grew its holdings in shares of Genuine Parts Company (NYSE:GPC) by 9.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,553 shares of the specialty retailer’s stock after buying an additional 473 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Genuine Parts were worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Diversified Trust Co grew its holdings in shares of Genuine Parts by 1.8% during the second quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock valued at $562,000 after buying an additional 83 shares during the last quarter. Brown Lisle Cummings Inc. boosted its holdings in Genuine Parts by 5.7% during the second quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock worth $187,000 after purchasing an additional 83 shares during the last quarter. Oak Asset Management LLC boosted its holdings in Genuine Parts by 0.6% during the second quarter. Oak Asset Management LLC now owns 13,462 shares of the specialty retailer’s stock worth $1,633,000 after purchasing an additional 85 shares during the last quarter. Horizon Investments LLC boosted its holdings in Genuine Parts by 4.8% during the first quarter. Horizon Investments LLC now owns 1,996 shares of the specialty retailer’s stock worth $238,000 after purchasing an additional 91 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in Genuine Parts by 2.8% during the first quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer’s stock worth $402,000 after purchasing an additional 93 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Naveen Krishna sold 5,303 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at $3,606,589.44. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Genuine Parts Stock Performance

NYSE GPC opened at $130.34 on Friday. The company’s 50 day moving average is $137.52 and its 200-day moving average is $127.35. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.29. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a market cap of $18.13 billion, a P/E ratio of 22.43 and a beta of 0.77.

Genuine Parts (NYSE:GPC) last posted 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 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 analyst estimates of $6.10 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The company’s quarterly 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. Sell-side analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Friday, September 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. Genuine Parts’s payout ratio is 70.91%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GPC shares. Truist Financial boosted their price target 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. Loop Capital boosted their price target 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 Wednesday. JPMorgan Chase & Co. boosted their price target 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, UBS Group boosted their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $138.86.

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.