Palisade Asset Management LLC Sells 5,713 Shares of Genuine Parts Company $GPC

Palisade Asset Management LLC decreased its holdings in shares of Genuine Parts Company (NYSE:GPC) by 23.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,606 shares of the specialty retailer’s stock after selling 5,713 shares during the quarter. Palisade Asset Management LLC’s holdings in Genuine Parts were worth $2,288,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GPC. Norges Bank bought a new position in shares of Genuine Parts during the fourth quarter valued at approximately $293,471,000. Baupost Group LLC MA bought a new position in shares of Genuine Parts during the third quarter valued at approximately $193,347,000. Northwestern Mutual Wealth Management Co. grew its stake in Genuine Parts by 7,774.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,234,984 shares of the specialty retailer’s stock worth $151,854,000 after purchasing an additional 1,219,300 shares in the last quarter. Interval Partners LP grew its stake in Genuine Parts by 422.5% in the third quarter. Interval Partners LP now owns 932,596 shares of the specialty retailer’s stock worth $129,258,000 after purchasing an additional 754,117 shares in the last quarter. Finally, Junto Capital Management LP bought a new position in Genuine Parts in the third quarter worth approximately $65,551,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.1%

Genuine Parts stock opened at $103.69 on Monday. The business has a fifty day moving average of $102.90 and a two-hundred day moving average of $117.36. 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 has a market cap of $14.27 billion, a P/E ratio of 241.14 and a beta of 0.67. Genuine Parts Company has a twelve month low of $90.78 and a twelve month high of $151.57.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates 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%.Genuine Parts’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 earnings per share. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. On average, analysts forecast that Genuine Parts Company will post 7.67 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be issued a dividend of $1.0625 per share. The ex-dividend date is Friday, June 5th. This represents a $4.25 dividend on an annualized basis and a yield of 4.1%. Genuine Parts’s dividend payout ratio is currently 988.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Evercore set a $160.00 price objective on Genuine Parts in a research note on Friday, February 20th. UBS Group dropped 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Genuine Parts in a research note on Friday, March 27th. Raymond James Financial raised Genuine Parts from a “market perform” rating to a “strong-buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, February 24th. Finally, Truist Financial dropped their price objective on Genuine Parts from $127.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.71.

Insiders Place Their Bets

In other Genuine Parts news, insider James F. Howe sold 415 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total transaction of $43,296.95. Following the completion of the sale, the insider owned 25,589 shares in the company, valued at $2,669,700.37. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.13% of the stock is currently owned by corporate insiders.

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.