Gabelli Funds LLC Raises Holdings in Genuine Parts Company $GPC

Key Points

• Gabelli Funds LLC increased its stake in Genuine Parts Company by 2.8% in the fourth quarter, holding 708,500 shares worth about $87.1 million as of its latest filing.
• Institutional ownership in GPC remains heavy, with 78.83% of shares held by hedge funds and other institutional investors; several funds also made sizable new or expanded positions recently.
• Genuine Parts reported quarterly EPS of $1.77, topping estimates, and revenue of $6.26 billion, while also announcing a quarterly dividend of $1.0625 per share, implying a 4.6% annualized yield.

Gabelli Funds LLC raised its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 708,500 shares of the specialty retailer's stock after buying an additional 19,360 shares during the quarter. Gabelli Funds LLC owned about 0.51% of Genuine Parts worth $87,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Baupost Group LLC MA acquired a new stake in Genuine Parts in the 3rd quarter valued at about $193,347,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Genuine Parts by 7,774.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,234,984 shares of the specialty retailer's stock valued at $151,854,000 after purchasing an additional 1,219,300 shares during the last quarter. Interval Partners LP lifted its position in Genuine Parts by 422.5% during the third quarter. Interval Partners LP now owns 932,596 shares of the specialty retailer's stock worth $129,258,000 after buying an additional 754,117 shares in the last quarter. Junto Capital Management LP acquired a new position in Genuine Parts during the third quarter worth $65,551,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Genuine Parts in the 3rd quarter valued at $61,321,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In related news, insider James F. Howe sold 415 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $104.33, for a total transaction of $43,296.95. Following the completion of the transaction, the insider owned 25,589 shares of the company's stock, valued at approximately $2,669,700.37. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Genuine Parts in a report on Friday, March 27th. Zacks Research cut shares of Genuine Parts from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 25th. Raymond James Financial raised shares of Genuine Parts from a "market perform" rating to a "strong-buy" rating and set a $145.00 target price on the stock in a research note on Tuesday, February 24th. Evercore set a $160.00 target price on shares of Genuine Parts in a report on Friday, February 20th. Finally, Truist Financial dropped their price target on shares of Genuine Parts from $127.00 to $124.00 and set a "hold" rating for the company in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $143.71.

Genuine Parts Stock Performance

NYSE GPC opened at $92.92 on Monday. The stock has a fifty day simple moving average of $105.95 and a 200-day simple moving average of $121.38. The company has a current ratio of 1.09, a quick ratio of 0.48 and a debt-to-equity ratio of 0.77. The stock has a market cap of $12.79 billion, a PE ratio of 216.10 and a beta of 0.70. Genuine Parts Company has a twelve month low of $92.83 and a twelve month high of $151.57.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.02. Genuine Parts had a net margin of 0.24% and a return on equity of 22.28%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same period in the previous year, the firm earned $1.75 EPS. Genuine Parts's revenue was up 6.8% on a year-over-year basis. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Equities analysts anticipate that Genuine Parts Company will post 7.65 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, June 5th. Genuine Parts's dividend payout ratio is currently 988.37%.

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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