Kornitzer Capital Management Inc. KS Decreases Stock Position in Genuine Parts Company $GPC

Kornitzer Capital Management Inc. KS decreased its stake in shares of Genuine Parts Company (NYSE:GPC) by 67.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,024 shares of the specialty retailer’s stock after selling 16,328 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Genuine Parts were worth $849,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GPC. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Genuine Parts by 85.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,262 shares of the specialty retailer’s stock valued at $3,200,000 after buying an additional 13,900 shares during the last quarter. Montag A & Associates Inc. lifted its holdings in Genuine Parts by 19.6% during the 1st quarter. Montag A & Associates Inc. now owns 64,855 shares of the specialty retailer’s stock worth $6,923,000 after buying an additional 10,622 shares during the last quarter. TABR Capital Management LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth about $4,217,000. California Public Employees Retirement System boosted its position in shares of Genuine Parts by 12.1% during the 3rd quarter. California Public Employees Retirement System now owns 533,603 shares of the specialty retailer’s stock worth $73,957,000 after acquiring an additional 57,694 shares in the last quarter. Finally, Conning Inc. increased its holdings in shares of Genuine Parts by 5.7% in the 4th quarter. Conning Inc. now owns 246,390 shares of the specialty retailer’s stock valued at $30,296,000 after acquiring an additional 13,357 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity

In related news, insider James F. Howe sold 415 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $104.33, for a total value of $43,296.95. Following the transaction, the insider owned 25,589 shares in the company, valued at $2,669,700.37. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 Stock Performance

Shares of GPC opened at $125.70 on Monday. The company’s 50 day simple moving average is $106.35 and its 200-day simple moving average is $115.61. The firm has a market cap of $17.30 billion, a PE ratio of 292.33 and a beta of 0.63. Genuine Parts Company has a 12-month low of $90.78 and a 12-month high of $151.57. The company has a current ratio of 1.09, a quick ratio of 0.48 and a debt-to-equity ratio of 0.77.

Genuine Parts (NYSE:GPC) last issued its quarterly 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. Genuine Parts had a net margin of 0.24% and a return on equity of 22.28%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.17 billion. During the same quarter in the prior year, the business earned $1.75 EPS. Genuine Parts’s quarterly revenue was up 6.8% compared to the same quarter last year. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. As a group, equities analysts predict that Genuine Parts Company will post 7.69 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were issued a dividend of $1.0625 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.4%. Genuine Parts’s dividend payout ratio (DPR) is currently 988.37%.

Analyst Ratings Changes

GPC has been the topic of several research analyst reports. Truist Financial cut their target price on Genuine Parts from $127.00 to $124.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. UBS Group dropped their price target on shares of Genuine Parts from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Zacks Research raised shares of Genuine Parts from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a research report on Wednesday, June 24th. Finally, DA Davidson upped their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $144.50.

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.