Genuine Parts (NYSE:GPC) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in Genuine Parts (NYSE:GPC) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 874,751 shares of the specialty retailer’s stock after selling 7,581 shares during the quarter. California Public Employees Retirement System owned approximately 0.62% of Genuine Parts worth $121,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GPC. OFI Invest Asset Management acquired a new position in Genuine Parts in the third quarter valued at $25,000. Briaud Financial Planning Inc acquired a new stake in Genuine Parts during the third quarter worth about $28,000. Milestone Investment Advisors LLC acquired a new stake in Genuine Parts during the third quarter worth about $28,000. Authentikos Wealth Advisory LLC acquired a new stake in Genuine Parts during the third quarter worth about $40,000. Finally, Orion Capital Management LLC acquired a new stake in Genuine Parts during the third quarter worth about $42,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Up 0.2 %

Shares of GPC opened at $163.36 on Wednesday. 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 50-day moving average price of $151.08 and a 200 day moving average price of $142.62. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The company has a market capitalization of $22.76 billion, a P/E ratio of 18.21 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the business posted $2.14 EPS. Genuine Parts’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.37% of the stock is currently owned by company insiders.

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.