Synergy Asset Management LLC Acquires 79,044 Shares of Genuine Parts Company $GPC

Synergy Asset Management LLC raised its holdings in shares of Genuine Parts Company (NYSE:GPC) by 272.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,028 shares of the specialty retailer’s stock after buying an additional 79,044 shares during the period. Synergy Asset Management LLC’s holdings in Genuine Parts were worth $14,706,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GPC. Golden State Wealth Management LLC lifted its stake in shares of Genuine Parts by 8,833.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 265 shares during the last quarter. Concord Wealth Partners increased its stake in 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 purchasing an additional 177 shares during the period. Hantz Financial Services Inc. increased its stake in Genuine Parts by 7,825.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 313 shares during the period. Quaker Wealth Management LLC lifted its position in Genuine Parts by 11,533.3% in the second 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. Finally, Cromwell Holdings LLC boosted its stake in shares of Genuine Parts by 49.1% during the second 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 period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.8%

NYSE:GPC opened at $124.00 on Friday. The company has a 50-day moving average price of $127.36 and a 200-day moving average price of $130.81. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 21.34 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $143.48.

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

Genuine Parts Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Evercore ISI boosted 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. upped their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. UBS Group raised their target price on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

About Genuine Parts

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.