III Capital Management Buys Shares of 38,000 Genuine Parts Company $GPC

III Capital Management purchased a new position in shares of Genuine Parts Company (NYSE:GPC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,000 shares of the specialty retailer’s stock, valued at approximately $4,483,000. Genuine Parts comprises 1.1% of III Capital Management’s investment portfolio, making the stock its 6th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its stake in shares of Genuine Parts by 1.8% in the 4th quarter. IHT Wealth Management LLC now owns 4,644 shares of the specialty retailer’s stock worth $571,000 after acquiring an additional 83 shares during the period. Oakworth Capital Inc. lifted its position in Genuine Parts by 1.9% in the fourth quarter. Oakworth Capital Inc. now owns 4,680 shares of the specialty retailer’s stock valued at $575,000 after purchasing an additional 88 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Genuine Parts by 34.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 341 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 88 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its position in Genuine Parts by 13.8% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 727 shares of the specialty retailer’s stock worth $86,000 after purchasing an additional 88 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ raised its stake in shares of Genuine Parts by 3.8% during the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 2,413 shares of the specialty retailer’s stock worth $297,000 after buying an additional 88 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GPC. Evercore restated an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. Truist Financial boosted their target price on shares of Genuine Parts from $124.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Zacks Research upgraded shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Raymond James Financial reissued a “strong-buy” rating and set a $165.00 price objective on shares of Genuine Parts in a report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and an average target price of $147.86.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $138.09 on Wednesday. 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 company’s 50-day moving average price is $125.29 and its 200 day moving average price is $115.03. Genuine Parts Company has a 52 week low of $90.78 and a 52 week high of $151.57. The stock has a market cap of $19.04 billion, a price-to-earnings ratio of 552.34 and a beta of 0.63.

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

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be issued a $1.0625 dividend. 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 payout ratio is 1,700.00%.

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.