Genuine Parts (NYSE:GPC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 3.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,138 shares of the specialty retailer’s stock after selling 341 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Genuine Parts were worth $1,541,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WD Rutherford LLC purchased a new position in shares of Genuine Parts in the 1st quarter valued at about $26,000. Union Savings Bank grew its holdings in Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of Genuine Parts in the 1st quarter valued at approximately $35,000. Stephens Consulting LLC raised its holdings in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in shares of Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GPC. The Goldman Sachs Group cut their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Wedbush decreased their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. UBS Group reduced their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Finally, Evercore ISI dropped their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Up 0.1 %

Shares of NYSE:GPC opened at $136.69 on Friday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. 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 stock has a market cap of $19.04 billion, a P/E ratio of 15.24 and a beta of 0.90. The firm has a fifty day moving average price of $139.70 and a 200 day moving average price of $144.53.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the business earned $2.44 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. Genuine Parts’s payout ratio is currently 44.59%.

About Genuine Parts

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.