Cullen Capital Management LLC Sells 22,408 Shares of Genuine Parts Company $GPC

Cullen Capital Management LLC lowered its stake in Genuine Parts Company (NYSE:GPC) by 1.6% in the fourth quarter, Holdings Channel reports. The fund owned 1,336,590 shares of the specialty retailer’s stock after selling 22,408 shares during the quarter. Genuine Parts accounts for approximately 1.8% of Cullen Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Cullen Capital Management LLC’s holdings in Genuine Parts were worth $164,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Genuine Parts by 1.0% in the fourth 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Genuine Parts by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,775,438 shares of the specialty retailer’s stock worth $462,772,000 after acquiring an additional 64,676 shares during the last quarter. Barclays PLC lifted its holdings in shares of Genuine Parts by 0.6% in the third quarter. Barclays PLC now owns 3,528,297 shares of the specialty retailer’s stock worth $489,022,000 after acquiring an additional 21,437 shares during the last quarter. Norges Bank bought a new position in Genuine Parts in the 4th quarter valued at approximately $293,471,000. Finally, JPMorgan Chase & Co. raised its holdings in Genuine Parts by 2.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,294,749 shares of the specialty retailer’s stock valued at $282,162,000 after buying an additional 57,341 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GPC. Truist Financial dropped their price objective on shares of Genuine Parts from $127.00 to $124.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. UBS Group dropped their price objective on shares of Genuine Parts from $135.00 to $125.00 and set a “neutral” 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. Raymond James Financial upgraded shares of Genuine Parts from a “market perform” rating to a “strong-buy” rating and set a $145.00 price objective for the company in a report on Tuesday, February 24th. Finally, Zacks Research upgraded shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Genuine Parts presently has an average rating of “Moderate Buy” and an average target price of $143.71.

Genuine Parts Stock Up 1.4%

Shares of NYSE GPC opened at $103.69 on Friday. The company has a 50 day simple moving average of $102.90 and a 200 day simple moving average of $117.42. The firm has a market cap of $14.27 billion, a PE ratio of 241.14 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.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, April 21st. The specialty retailer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.02. The business 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 for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 EPS. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. On average, research analysts forecast that Genuine Parts Company will post 7.67 EPS for the current year.

Genuine Parts Announces Dividend

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

Insiders Place Their Bets

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

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.