III Capital Management Makes New Investment in Genuine Parts Company $GPC

III Capital Management purchased a new position in shares of Genuine Parts Company (NYSE:GPC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,000 shares of the specialty retailer’s stock, valued at approximately $4,483,000. Genuine Parts accounts for approximately 1.1% of III Capital Management’s investment portfolio, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in GPC. BlackRock Inc. acquired a new stake in shares of Genuine Parts in the second quarter worth approximately $1,574,910,000. Norges Bank purchased a new position in Genuine Parts during the fourth quarter worth approximately $293,471,000. Cullen Capital Management LLC acquired a new position in shares of Genuine Parts in the 2nd quarter valued at $166,471,000. Baupost Group LLC MA acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $193,347,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Genuine Parts by 7,774.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,234,984 shares of the specialty retailer’s stock valued at $151,854,000 after buying an additional 1,219,300 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC opened at $138.09 on Wednesday. The firm has a market cap of $19.04 billion, a price-to-earnings ratio of 552.34 and a beta of 0.63. The company has a quick ratio of 0.50, a current ratio of 1.16 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average is $125.29 and its two-hundred day moving average is $115.03. Genuine Parts Company has a 52-week low of $90.78 and a 52-week high of $151.57.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.07. Genuine Parts had a net margin of 0.13% and a return on equity of 22.59%. The company had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Analysts forecast that Genuine Parts Company will post 7.73 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 4th. Genuine Parts’s dividend payout ratio is 1,700.00%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of research reports. Truist Financial raised their price objective on Genuine Parts from $124.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday, June 24th. Raymond James Financial reissued a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a research note on Wednesday, July 22nd. Zacks Research raised shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, UBS Group reissued a “neutral” rating and issued a $122.00 price objective on shares of Genuine Parts in a research report 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.86.

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.