Pinnacle West Asset Management Inc. Buys New Stake in Genuine Parts Company $GPC

Pinnacle West Asset Management Inc. purchased a new position in shares of Genuine Parts Company (NYSE:GPC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,115 shares of the specialty retailer’s stock, valued at approximately $839,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Genuine Parts by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,533,951 shares of the specialty retailer’s stock worth $2,155,975,000 after acquiring an additional 167,981 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Genuine Parts in the 2nd quarter valued at about $1,574,910,000. State Street Corp increased its stake in shares of Genuine Parts by 1.4% in the 4th quarter. State Street Corp now owns 7,589,908 shares of the specialty retailer’s stock valued at $940,940,000 after purchasing an additional 107,440 shares in the last quarter. Barclays PLC raised its holdings in Genuine Parts by 10.6% in the 4th quarter. Barclays PLC now owns 3,901,362 shares of the specialty retailer’s stock worth $479,711,000 after purchasing an additional 373,065 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Genuine Parts by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,775,438 shares of the specialty retailer’s stock worth $462,772,000 after purchasing an additional 64,676 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GPC. Evercore reiterated an “outperform” rating on shares of Genuine Parts in a research report on Wednesday, July 22nd. Zacks Research raised Genuine Parts from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. DA Davidson increased their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. UBS Group reissued a “neutral” rating and issued a $122.00 price target on shares of Genuine Parts in a research note on Wednesday, July 22nd. Finally, Truist Financial boosted their price target on shares of Genuine Parts from $124.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday, July 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.86.

Genuine Parts Stock Performance

NYSE GPC opened at $134.03 on Friday. The company has a market cap of $18.48 billion, a PE ratio of 536.12 and a beta of 0.63. The stock’s 50 day simple moving average is $124.05 and its 200-day simple moving average is $115.34. 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 0.88, a current ratio of 1.16 and a quick ratio of 0.50.

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

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 4th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, September 4th. Genuine Parts’s dividend payout ratio is 1,700.00%.

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.