Pinnacle Financial Partners Inc Grows Holdings in Genuine Parts Company $GPC

Pinnacle Financial Partners Inc increased its holdings in Genuine Parts Company (NYSE:GPC) by 709.4% in the 3rd quarter, Holdings Channel reports. The fund 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 SEC filing.

Several other hedge funds have also bought and sold shares of GPC. Peoples Financial Services CORP. bought a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $29,000. Golden State Wealth Management LLC lifted its position in Genuine Parts by 8,833.3% during the second quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 265 shares during the period. Concord Wealth Partners boosted its stake in shares of Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after buying an additional 177 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Genuine Parts by 7,825.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 313 shares during the last quarter. Finally, Quaker Wealth Management LLC increased its position in shares of Genuine Parts by 11,533.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 346 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective 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. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. Finally, Truist Financial lifted their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and an average target price of $148.00.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $136.80 on Friday. The firm’s fifty day moving average is $127.82 and its two-hundred day moving average is $131.51. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The company has a market cap of $19.03 billion, a P/E ratio of 23.55 and a beta of 0.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

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.