Commerce Bank Purchases New Stake in Genuine Parts Company $GPC

Commerce Bank purchased a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,080 shares of the specialty retailer's stock, valued at approximately $1,425,000.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Genuine Parts by 3.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,717 shares of the specialty retailer's stock worth $2,111,000 after purchasing an additional 671 shares during the last quarter. Woodline Partners LP increased its holdings in Genuine Parts by 40.7% during the 1st quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer's stock valued at $1,399,000 after purchasing an additional 3,396 shares during the period. EverSource Wealth Advisors LLC raised its position in Genuine Parts by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the specialty retailer's stock valued at $122,000 after purchasing an additional 137 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Genuine Parts by 5.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,954 shares of the specialty retailer's stock worth $3,027,000 after buying an additional 1,323 shares during the period. Finally, AXA S.A. lifted its holdings in Genuine Parts by 37.2% in the 2nd quarter. AXA S.A. now owns 51,292 shares of the specialty retailer's stock worth $6,222,000 after buying an additional 13,898 shares during the period. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Genuine Parts from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Genuine Parts in a research note on Wednesday, June 24th. UBS Group reissued a "neutral" rating and set a $122.00 price objective on shares of Genuine Parts in a research report on Wednesday, July 22nd. Raymond James Financial restated a "strong-buy" rating and issued a $165.00 price objective on shares of Genuine Parts in a report on Wednesday, July 22nd. Finally, DA Davidson raised their target price 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. One 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $147.86.

Genuine Parts Stock Up 1.8%

Shares of NYSE:GPC opened at $138.09 on Wednesday. Genuine Parts Company has a 52-week low of $90.78 and a 52-week high of $151.57. The firm has a market capitalization of $19.04 billion, a P/E ratio of 552.34 and a beta of 0.63. The stock has a 50 day moving average price of $125.29 and a 200-day moving average price of $115.03. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.50 and a current ratio of 1.16.

Genuine Parts (NYSE:GPC - Get Free Report) last released 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. 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 during the quarter, compared to analysts' expectations of $6.43 billion. During the same quarter last year, the business posted $2.10 EPS. The firm's revenue for the quarter 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. As a group, equities research analysts anticipate that Genuine Parts Company will post 7.73 EPS for the current fiscal year.

Genuine Parts Announces Dividend

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