Genuine Parts Company $GPC Stake Lessened by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its Genuine Parts stake by 40.1% in the second quarter, selling 28,167 shares and retaining 42,000 shares valued at approximately $4.96 million. Institutional investors and hedge funds collectively own 78.83% of GPC.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $147.86. Recent targets range from $122 to $170.
• Genuine Parts exceeded quarterly earnings and revenue expectations, reporting $2.15 in EPS and $6.54 billion in revenue, while revenue rose 6% year over year. The company also declared a quarterly dividend of $1.0625 per share, equivalent to a 3.1% annualized yield.

Handelsbanken Fonder AB lessened its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 40.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,000 shares of the specialty retailer's stock after selling 28,167 shares during the quarter. Handelsbanken Fonder AB's holdings in Genuine Parts were worth $4,955,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Genuine Parts by 85.0% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,262 shares of the specialty retailer's stock worth $3,200,000 after purchasing an additional 13,900 shares during the last quarter. Montag A & Associates Inc. boosted its stake in Genuine Parts by 19.6% during the 1st quarter. Montag A & Associates Inc. now owns 64,855 shares of the specialty retailer's stock valued at $6,923,000 after purchasing an additional 10,622 shares during the period. Paradiem LLC acquired a new position in Genuine Parts during the 1st quarter valued at about $3,154,000. Hsbc Holdings PLC grew its position in Genuine Parts by 19.5% in the 4th quarter. Hsbc Holdings PLC now owns 477,970 shares of the specialty retailer's stock worth $58,887,000 after purchasing an additional 77,936 shares during the last quarter. Finally, Conning Inc. grew its position in Genuine Parts by 5.7% in the 4th quarter. Conning Inc. now owns 246,390 shares of the specialty retailer's stock worth $30,296,000 after purchasing an additional 13,357 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GPC. UBS Group reaffirmed a "neutral" rating and set a $122.00 price target on shares of Genuine Parts in a report on Wednesday, July 22nd. Raymond James Financial reissued a "strong-buy" rating and issued a $165.00 price objective on shares of Genuine Parts in a report on Wednesday, July 22nd. Truist Financial raised their target price 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 target on Genuine Parts from $150.00 to $170.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Evercore restated an "outperform" rating on shares of Genuine Parts in a report on Wednesday, July 22nd. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $147.86.

Genuine Parts Stock Performance

GPC opened at $134.98 on Friday. The stock's 50 day simple moving average is $120.75 and its 200-day simple moving average is $115.54. The stock has a market cap of $18.61 billion, a PE ratio of 539.93 and a beta of 0.63. Genuine Parts Company has a 1 year low of $90.78 and a 1 year high of $151.57. The company has a current ratio of 1.16, a quick ratio of 0.50 and a debt-to-equity ratio of 0.88.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.07. The firm had revenue of $6.54 billion during the quarter, compared to analyst estimates 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 prior year, the business posted $2.10 earnings per share. 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 EPS for the current year.

Genuine Parts Dividend Announcement

The company 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 dividend of $1.0625 per share. The ex-dividend date is Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a yield of 3.1%. Genuine Parts's 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.

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