Bank of New York Mellon Corp acquired a new stake in Genuine Parts Company (NYSE:GPC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 787,637 shares of the specialty retailer's stock, valued at approximately $92,925,000. Bank of New York Mellon Corp owned about 0.57% of Genuine Parts at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GPC. Focus Partners Advisor Solutions LLC acquired a new position in shares of Genuine Parts in the 2nd quarter valued at approximately $209,000. Orca Investment Management LLC bought a new stake in shares of Genuine Parts in the second quarter worth $332,000. Clearstead Trust LLC bought a new stake in shares of Genuine Parts in the second quarter worth $48,000. BIP Wealth LLC acquired a new stake in Genuine Parts in the second quarter valued at $335,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Genuine Parts in the second quarter valued at $20,314,000. Hedge funds and other institutional investors own 78.83% of the company's stock.
Analysts Set New Price Targets
GPC has been the subject of several recent analyst reports. Evercore reissued an "outperform" rating on shares of Genuine Parts in a report on Wednesday, July 22nd. DA Davidson increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Truist Financial lifted their price target on Genuine Parts from $124.00 to $126.00 and gave the stock a "hold" rating in a research note on Wednesday, July 22nd. Raymond James Financial restated a "strong-buy" rating and set a $165.00 price objective on shares of Genuine Parts in a research note on Wednesday, July 22nd. Finally, Zacks Research upgraded Genuine Parts from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $147.86.
View Our Latest Report on Genuine Parts
Genuine Parts Price Performance
GPC opened at $135.71 on Tuesday. The firm has a market cap of $18.71 billion, a price-to-earnings ratio of 542.84 and a beta of 0.63. Genuine Parts Company has a fifty-two week low of $90.78 and a fifty-two week high of $151.57. The company's 50-day moving average price is $124.67 and its 200 day moving average price is $115.10. The company has a quick ratio of 0.50, a current ratio of 1.16 and a debt-to-equity ratio of 0.88.
Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.07. The company had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.43 billion. Genuine Parts had a return on equity of 22.59% and a net margin of 0.13%.Genuine Parts's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 earnings per share. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. As a group, sell-side analysts expect that Genuine Parts Company will post 7.73 earnings per share for the current year.
Genuine Parts Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 4th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $4.25 annualized dividend and a yield of 3.1%. Genuine Parts's dividend payout ratio is presently 1,700.00%.
About Genuine Parts
(
Free Report)
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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