Public Employees Retirement Association of Colorado Has $16.07 Million Holdings in Genuine Parts (NYSE:GPC)

Public Employees Retirement Association of Colorado decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,162 shares of the specialty retailer’s stock after selling 178 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.08% of Genuine Parts worth $16,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. raised its position in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. WD Rutherford LLC bought a new stake in Genuine Parts in the first quarter valued at about $26,000. Union Savings Bank lifted its stake in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 100 shares during the period. Thompson Investment Management Inc. bought a new position in Genuine Parts during the first quarter worth about $35,000. Finally, Stephens Consulting LLC grew its position in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

GPC opened at $137.02 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 15.28 and a beta of 0.90. The business’s 50-day moving average price is $139.76 and its two-hundred day moving average price is $145.41. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results 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 firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 EPS. Equities analysts expect that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reissued a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. Wedbush dropped their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $161.14.

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.