Cullen Capital Management LLC Purchases New Position in Genuine Parts Company $GPC

Key Points

• Cullen Capital Management acquired 1.41 million shares of Genuine Parts, valued at approximately $166.5 million, giving it a 1.02% stake and making GPC 1.6% of its portfolio.
• Genuine Parts reported quarterly EPS of $2.15 and revenue of $6.54 billion, exceeding analyst estimates, while revenue increased 6% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $147.86.
• GPC shares opened at $135.71, and the company announced a quarterly dividend of $1.0625, equivalent to $4.25 annually and a 3.1% yield.

Cullen Capital Management LLC acquired a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,411,008 shares of the specialty retailer's stock, valued at approximately $166,471,000. Genuine Parts accounts for 1.6% of Cullen Capital Management LLC's investment portfolio, making the stock its 26th biggest position. Cullen Capital Management LLC owned about 1.02% of Genuine Parts as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. Vanguard Group Inc. grew its position in shares of Genuine Parts by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,533,951 shares of the specialty retailer's stock worth $2,155,975,000 after buying an additional 167,981 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Genuine Parts in the second quarter valued at about $1,574,910,000. State Street Corp raised its holdings in shares of Genuine Parts by 1.4% in the fourth quarter. State Street Corp now owns 7,589,908 shares of the specialty retailer's stock valued at $940,940,000 after acquiring an additional 107,440 shares in the last quarter. Barclays PLC lifted its stake in Genuine Parts by 10.6% in the fourth quarter. Barclays PLC now owns 3,901,362 shares of the specialty retailer's stock worth $479,711,000 after acquiring an additional 373,065 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Genuine Parts by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,775,438 shares of the specialty retailer's stock worth $462,772,000 after acquiring an additional 64,676 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Genuine Parts Stock Performance

GPC stock 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. The firm has a 50-day simple moving average of $124.67 and a two-hundred day simple moving average of $115.10. Genuine Parts Company has a one year low of $90.78 and a one year high of $151.57. 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 issued its quarterly earnings data on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.07. The firm had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.43 billion. Genuine Parts had a net margin of 0.13% and a return on equity of 22.59%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 EPS. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. On average, equities analysts forecast that Genuine Parts Company will post 7.73 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, September 4th. Genuine Parts's dividend payout ratio (DPR) is 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.

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