Hsbc Holdings PLC Takes $60.09 Million Position in Genuine Parts Company $GPC

Hsbc Holdings PLC bought a new position in Genuine Parts Company (NYSE:GPC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 510,305 shares of the specialty retailer's stock, valued at approximately $60,090,000. Hsbc Holdings PLC owned about 0.37% of Genuine Parts as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GPC. Strive Financial Group LLC bought a new stake in Genuine Parts during the fourth quarter worth about $25,000. Motiv8 Investments LLC acquired a new stake in shares of Genuine Parts during the fourth quarter worth approximately $31,000. Elyxium Wealth LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $33,000. Elevation Wealth Partners LLC raised its stake in shares of Genuine Parts by 510.9% in the second quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer's stock valued at $33,000 after acquiring an additional 235 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Genuine Parts by 6,225.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 253 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of GPC stock opened at $139.37 on Thursday. 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. The firm's 50 day moving average is $125.95 and its 200-day moving average is $114.99. The firm has a market capitalization of $19.21 billion, a price-to-earnings ratio of 557.48 and a beta of 0.63.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.07. Genuine Parts had a net margin of 0.13% and a return on equity of 22.59%. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same quarter last year, the business posted $2.10 earnings per share. Genuine Parts'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. Sell-side analysts forecast that Genuine Parts Company will post 7.73 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 4th. Genuine Parts's dividend payout ratio (DPR) is 1,700.00%.

Analyst Upgrades and Downgrades

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

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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