Meyer Handelman Co. Cuts Stake in Genuine Parts Company $GPC

Meyer Handelman Co. lessened its position in Genuine Parts Company (NYSE:GPC) by 5.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 84,567 shares of the specialty retailer’s stock after selling 4,570 shares during the period. Meyer Handelman Co.’s holdings in Genuine Parts were worth $8,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Genuine Parts by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,717 shares of the specialty retailer’s stock worth $2,111,000 after purchasing an additional 671 shares during the period. Woodline Partners LP lifted its holdings in shares of Genuine Parts by 40.7% in the 1st quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer’s stock valued at $1,399,000 after buying an additional 3,396 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Genuine Parts by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the specialty retailer’s stock valued at $122,000 after buying an additional 137 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Genuine Parts by 5.6% during the second quarter. Daiwa Securities Group Inc. now owns 24,954 shares of the specialty retailer’s stock worth $3,027,000 after acquiring an additional 1,323 shares during the period. Finally, AXA S.A. grew its stake in shares of Genuine Parts by 37.2% during the 2nd quarter. AXA S.A. now owns 51,292 shares of the specialty retailer’s stock worth $6,222,000 after purchasing an additional 13,898 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

NYSE GPC opened at $112.93 on Friday. The firm has a market capitalization of $15.54 billion, a P/E ratio of 262.63 and a beta of 0.66. Genuine Parts Company has a 1-year low of $90.78 and a 1-year high of $151.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.09 and a quick ratio of 0.48. The business’s 50-day simple moving average is $103.16 and its 200-day simple moving average is $115.97.

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

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 5th will be given a $1.0625 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $4.25 annualized dividend and a dividend yield of 3.8%. Genuine Parts’s dividend payout ratio is presently 988.37%.

Insider Activity at Genuine Parts

In related news, insider James F. Howe sold 415 shares of Genuine Parts stock in a transaction 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 transaction, the insider owned 25,589 shares in the company, valued at approximately $2,669,700.37. The trade was a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial reduced their price objective 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 reiterated a “hold (c-)” rating on shares of Genuine Parts in a report on Friday, March 27th. Zacks Research raised shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. UBS Group dropped their price target on shares of Genuine Parts from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Finally, DA Davidson assumed coverage on shares of Genuine Parts in a research note on Tuesday, June 16th. They set a “strong-buy” rating and a $145.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.88.

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.