Korea Investment CORP acquired a new stake in Genuine Parts Company (NYSE:GPC – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 99,705 shares of the specialty retailer’s stock, valued at approximately $11,763,000.
A number of other institutional investors also recently modified their holdings of GPC. BlackRock Inc. bought a new position in Genuine Parts during the second quarter worth $1,574,910,000. Norges Bank bought a new stake in Genuine Parts in the fourth quarter valued at $293,471,000. Baupost Group LLC MA bought a new stake in Genuine Parts in the third quarter valued at $193,347,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Genuine Parts by 7,774.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,234,984 shares of the specialty retailer’s stock valued at $151,854,000 after purchasing an additional 1,219,300 shares during the period. Finally, Equity Investment Corp acquired a new position in shares of Genuine Parts during the second quarter valued at about $114,922,000. Institutional investors and hedge funds own 78.83% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently commented on GPC. DA Davidson raised their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $165.00 price target on shares of Genuine Parts in a research note on Wednesday, July 22nd. Evercore reiterated an “outperform” rating on shares of Genuine Parts in a report on Wednesday, July 22nd. Zacks Research raised Genuine Parts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.86.
Genuine Parts Stock Up 1.3%
Shares of NYSE GPC opened at $135.71 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.16 and a quick ratio of 0.50. The company has a 50-day moving average price of $124.67 and a 200-day moving average price of $115.10. The stock has a market capitalization of $18.71 billion, a P/E ratio of 542.84 and a beta of 0.63. Genuine Parts Company has a 1 year low of $90.78 and a 1 year high of $151.57.
Genuine Parts (NYSE:GPC – Get Free Report) last posted its earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.07. Genuine Parts had a net margin of 0.13% and a return on equity of 22.59%. The company had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the prior year, the business posted $2.10 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. On average, equities research analysts forecast that Genuine Parts Company will post 7.73 EPS for the current fiscal year.
Genuine Parts Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, September 4th. Genuine Parts’s dividend payout ratio (DPR) is currently 1,700.00%.
Genuine Parts 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.
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