Texas Permanent School Fund Corp Cuts Holdings in Genuine Parts (NYSE:GPC)

Texas Permanent School Fund Corp trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 20.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,185 shares of the specialty retailer’s stock after selling 5,805 shares during the period. Texas Permanent School Fund Corp’s holdings in Genuine Parts were worth $3,207,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GPC. Assetmark Inc. boosted its stake in 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 purchasing an additional 96 shares during the last quarter. WD Rutherford LLC purchased a new stake in Genuine Parts during the 1st quarter valued at $26,000. Union Savings Bank boosted its stake in Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. purchased a new position in shares of Genuine Parts in the 1st quarter worth $35,000. Finally, Stephens Consulting LLC boosted its stake 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 worth $35,000 after buying an additional 200 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

NYSE:GPC opened at $137.35 on Monday. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $164.45. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The business’s 50-day moving average is $139.38 and its 200 day moving average is $145.68. The company has a market capitalization of $19.14 billion, a P/E ratio of 15.31 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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 net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter last year, the company earned $2.44 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts forecast that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GPC shares. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Wedbush dropped their price target 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. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Evercore ISI dropped their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group decreased their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and an average target price of $161.14.

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.