Apollo Management Holdings L.P. Invests $88.25 Million in Genuine Parts Company $GPC

Apollo Management Holdings L.P. purchased a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 748,047 shares of the specialty retailer's stock, valued at approximately $88,255,000. Genuine Parts comprises about 1.0% of Apollo Management Holdings L.P.'s investment portfolio, making the stock its 15th largest position. Apollo Management Holdings L.P. owned about 0.54% of Genuine Parts at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strive Financial Group LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at $25,000. Motiv8 Investments LLC bought a new stake in shares of Genuine Parts in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd increased its position in shares of Genuine Parts by 6,225.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 253 shares of the specialty retailer's stock valued at $35,000 after buying an additional 249 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in Genuine Parts during the 4th quarter worth $33,000. Finally, Elevation Wealth Partners LLC raised its stake in Genuine Parts by 510.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer's stock worth $33,000 after buying an additional 235 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on GPC. Raymond James Financial restated a "strong-buy" rating and issued a $165.00 price target on shares of Genuine Parts in a report on Wednesday, July 22nd. DA Davidson upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. UBS Group reiterated a "neutral" rating and set a $122.00 target price on shares of Genuine Parts in a report on Wednesday, July 22nd. Truist Financial boosted their target price on Genuine Parts from $124.00 to $126.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Finally, Evercore reaffirmed an "outperform" rating on shares of Genuine Parts in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $147.86.

Genuine Parts Trading Down 0.1%

Shares of NYSE:GPC opened at $137.32 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.50 and a current ratio of 1.16. The company has a market capitalization of $18.93 billion, a P/E ratio of 549.28 and a beta of 0.63. Genuine Parts Company has a 52-week low of $90.78 and a 52-week high of $151.57. The company has a 50-day simple moving average of $127.07 and a 200 day simple moving average of $114.84.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 EPS for the quarter, beating the consensus estimate of $2.08 by $0.07. Genuine Parts had a return on equity of 22.59% and a net margin of 0.13%.The company had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Sell-side analysts forecast that Genuine Parts Company will post 7.73 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.25 annualized dividend and a dividend yield of 3.1%. Genuine Parts's dividend payout ratio is currently 1,700.00%.

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.

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts Company (NYSE:GPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source