Kentucky Retirement Systems Sells 150 Shares of Genuine Parts (NYSE:GPC)

Kentucky Retirement Systems lessened its stake in shares of Genuine Parts (NYSE:GPC) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,497 shares of the specialty retailer’s stock after selling 150 shares during the period. Kentucky Retirement Systems’ holdings in Genuine Parts were worth $1,452,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC bought a new stake in Genuine Parts during the 1st quarter valued at about $26,000. Union Savings Bank raised its holdings in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new position in shares of Genuine Parts in the first quarter worth approximately $35,000. Finally, Stephens Consulting LLC grew its holdings in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on GPC. Truist Financial restated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Evercore ISI reduced their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. Wedbush lowered their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $137.02 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 15.28 and a beta of 0.90. The firm has a 50 day moving average of $139.76 and a 200 day moving average of $145.41.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. On average, research analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Genuine Parts Company 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.