Retirement Systems of Alabama Decreases Stock Holdings in Genuine Parts (NYSE:GPC)

Retirement Systems of Alabama trimmed its stake in shares of Genuine Parts (NYSE:GPC) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,198 shares of the specialty retailer’s stock after selling 856 shares during the period. Retirement Systems of Alabama owned approximately 0.08% of Genuine Parts worth $16,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $25,000. Briaud Financial Planning Inc purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $28,000. Milestone Investment Advisors LLC purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $28,000. Authentikos Wealth Advisory LLC purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $40,000. Finally, Orion Capital Management LLC bought a new stake in Genuine Parts during the third quarter valued at approximately $42,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Evercore ISI decreased their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Truist Financial raised their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $173.10.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by insiders.

Genuine Parts Stock Down 2.6 %

Shares of NYSE GPC opened at $157.21 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 17.53 and a beta of 0.94. The stock has a 50 day moving average price of $152.49 and a 200 day moving average price of $143.02. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 earnings per share. Sell-side analysts expect that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.