Hsbc Holdings PLC Grows Holdings in Genuine Parts Company $GPC

Key Points

• HSBC Holdings PLC increased its stake in Genuine Parts by 35.2% in the first quarter, ending with 646,355 shares valued at about $67.8 million. The filing shows HSBC now owns roughly 0.47% of the company.
• Wall Street sentiment is mixed but slightly positive, with one Strong Buy, four Buy, and five Hold ratings. The consensus rating is “Moderate Buy,” and the average price target is $144.50.
• Genuine Parts reported solid quarterly results and a dividend, beating earnings and revenue estimates with $1.77 EPS and $6.26 billion in revenue. It also paid a quarterly dividend of $1.0625 per share, implying a 3.4% annualized yield.

Hsbc Holdings PLC lifted its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 35.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 646,355 shares of the specialty retailer's stock after buying an additional 168,385 shares during the quarter. Hsbc Holdings PLC owned approximately 0.47% of Genuine Parts worth $67,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GPC. Elevated Capital Advisors LLC grew its holdings in Genuine Parts by 693.4% during the 1st quarter. Elevated Capital Advisors LLC now owns 6,141 shares of the specialty retailer's stock worth $649,000 after acquiring an additional 5,367 shares in the last quarter. Forza Wealth Management LLC lifted its position in shares of Genuine Parts by 4.0% during the first quarter. Forza Wealth Management LLC now owns 6,083 shares of the specialty retailer's stock worth $643,000 after purchasing an additional 235 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Genuine Parts during the first quarter worth about $894,000. Staley Capital Advisers Inc. acquired a new position in Genuine Parts in the first quarter worth about $1,322,000. Finally, Montag A & Associates Inc. grew its stake in Genuine Parts by 19.6% in the first quarter. Montag A & Associates Inc. now owns 64,855 shares of the specialty retailer's stock worth $6,923,000 after purchasing an additional 10,622 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on GPC. Zacks Research raised Genuine Parts from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. DA Davidson lifted their target price on Genuine Parts from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Truist Financial lowered their price target on Genuine Parts from $127.00 to $124.00 and set a "hold" rating for the company in a report on Wednesday, April 22nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Genuine Parts in a research report on Wednesday, June 24th. Finally, UBS Group reduced their price objective on Genuine Parts from $135.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $144.50.

Insider Transactions at Genuine Parts

In other Genuine Parts news, insider James F. Howe sold 415 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total value of $43,296.95. Following the sale, the insider directly owned 25,589 shares in the company, valued at approximately $2,669,700.37. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.13% of the company's stock.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $124.83 on Monday. The company has a quick ratio of 0.48, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm's 50-day moving average price is $108.16 and its two-hundred day moving average price is $115.56. Genuine Parts Company has a 52-week low of $90.78 and a 52-week high of $151.57. The stock has a market capitalization of $17.18 billion, a P/E ratio of 290.31 and a beta of 0.63.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.75 by $0.02. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.17 billion. Genuine Parts had a return on equity of 22.28% and a net margin of 0.24%.The business's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 earnings per share. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. As a group, sell-side analysts forecast that Genuine Parts Company will post 7.69 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th were given a $1.0625 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $4.25 annualized dividend and a yield of 3.4%. Genuine Parts's dividend payout ratio (DPR) is currently 988.37%.

Genuine Parts Company 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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