Retirement Systems of Alabama Cuts Position in Genuine Parts (NYSE:GPC)

Retirement Systems of Alabama decreased its position in Genuine Parts (NYSE:GPC) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 118,198 shares of the specialty retailer’s stock after selling 856 shares during the quarter. Retirement Systems of Alabama’s holdings in Genuine Parts were worth $16,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. OFI Invest Asset Management purchased a new stake in Genuine Parts in the third quarter valued at approximately $25,000. Briaud Financial Planning Inc purchased a new stake in Genuine Parts in the third quarter valued at approximately $28,000. Milestone Investment Advisors LLC purchased a new stake in Genuine Parts in the third quarter valued at approximately $28,000. Authentikos Wealth Advisory LLC purchased a new stake in Genuine Parts in the third quarter valued at approximately $40,000. Finally, Orion Capital Management LLC purchased a new stake in Genuine Parts in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $157.21 on Wednesday. The company has a 50-day simple moving average of $152.49 and a 200-day simple moving average of $143.02. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. 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 stock has a market capitalization of $21.90 billion, a price-to-earnings ratio of 17.53 and a beta of 0.94.

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

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.54%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.