Dark Forest Capital Management LP Buys New Stake in Genuine Parts Company $GPC

Key Points

• Dark Forest Capital Management LP has acquired 47,216 shares of Genuine Parts Company, valued at approximately $5.625 million, marking a significant investment in the specialty retailer.
• Genuine Parts reported an earnings per share (EPS) of $2.10 for the last quarter, exceeding analysts' estimates, alongside a quarterly revenue of $6.16 billion.
• The company has declared a $1.03 quarterly dividend, yielding about 3.0%, with a dividend payout ratio of 70.91%.

Dark Forest Capital Management LP bought a new stake in Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 47,216 shares of the specialty retailer's stock, valued at approximately $5,625,000.

Several other hedge funds have also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC increased its stake in Genuine Parts by 38.3% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,560 shares of the specialty retailer's stock valued at $299,000 after acquiring an additional 709 shares during the last quarter. AXA S.A. grew its stake in shares of Genuine Parts by 19.6% in the fourth quarter. AXA S.A. now owns 40,031 shares of the specialty retailer's stock worth $4,674,000 after purchasing an additional 6,565 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Genuine Parts by 5.1% in the fourth quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after purchasing an additional 104,343 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Genuine Parts by 22.1% in the fourth quarter. BNP Paribas Financial Markets now owns 263,201 shares of the specialty retailer's stock worth $30,731,000 after purchasing an additional 47,557 shares during the last quarter. Finally, BIP Wealth LLC lifted its holdings in Genuine Parts by 38.2% in the fourth quarter. BIP Wealth LLC now owns 2,304 shares of the specialty retailer's stock valued at $269,000 after buying an additional 637 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 1.4%

Genuine Parts stock traded down $1.93 during trading hours on Friday, reaching $139.32. The stock had a trading volume of 2,049,930 shares, compared to its average volume of 1,009,480. The stock has a market cap of $19.38 billion, a PE ratio of 23.98 and a beta of 0.75. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.51. The company has a fifty day simple moving average of $132.23 and a 200-day simple moving average of $124.68.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. Genuine Parts has set its FY 2025 guidance at 7.500-8.000 EPS. Analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be 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 of this dividend is Friday, September 5th. Genuine Parts's dividend payout ratio is currently 70.91%.

Analyst Ratings Changes

GPC has been the topic of several research reports. Truist Financial upped their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Loop Capital upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. UBS Group upped their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI increased their target price on shares of Genuine Parts from $145.00 to $148.00 and gave the company an "outperform" rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

About Genuine Parts

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.