Cibc World Market Inc. Invests $2.61 Million in Genuine Parts Company $GPC

Cibc World Market Inc. bought a new stake in shares of Genuine Parts Company (NYSE:GPC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 22,124 shares of the specialty retailer’s stock, valued at approximately $2,610,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GPC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Genuine Parts by 3.9% during the first 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 in the last quarter. Woodline Partners LP grew its holdings in Genuine Parts by 40.7% in the first quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer’s stock valued at $1,399,000 after purchasing an additional 3,396 shares during the period. EverSource Wealth Advisors LLC increased its position 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. raised its stake in shares of Genuine Parts by 5.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,954 shares of the specialty retailer’s stock worth $3,027,000 after buying an additional 1,323 shares during the period. Finally, AXA S.A. raised 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 buying an additional 13,898 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday, June 24th. Evercore reissued an “outperform” rating on shares of Genuine Parts in a report on Wednesday, July 22nd. UBS Group restated a “neutral” rating and set a $122.00 price objective on shares of Genuine Parts in a research report on Wednesday, July 22nd. Zacks Research raised shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Truist Financial lifted their target price on shares of Genuine Parts from $124.00 to $126.00 and gave the company a “hold” rating 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. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.86.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $139.37 on Thursday. The stock has a market capitalization of $19.21 billion, a P/E ratio of 557.48 and a beta of 0.63. The business has a 50 day simple moving average of $125.95 and a two-hundred day simple moving average of $114.99. Genuine Parts Company has a 12 month low of $90.78 and a 12 month 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.07. Genuine Parts had a return on equity of 22.59% and a net margin of 0.13%.The firm had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the previous year, the company posted $2.10 earnings per share. The business’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. As a group, analysts predict that Genuine Parts Company will post 7.73 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 4th will be issued a $1.0625 dividend. The ex-dividend date is Friday, September 4th. This represents a $4.25 dividend on an annualized basis and a yield of 3.0%. Genuine Parts’s dividend payout ratio (DPR) is presently 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.