Genuine Parts (GPC) Stake Lessened by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC trimmed its position in Genuine Parts (NYSE:GPC) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,800 shares of the specialty retailer’s stock after selling 18,024 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.30% of Genuine Parts worth $41,500,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Trustcore Financial Services LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth about $107,000. Captrust Financial Advisors purchased a new stake in shares of Genuine Parts in the fourth quarter worth about $109,000. Valeo Financial Advisors LLC lifted its holdings in shares of Genuine Parts by 1,061.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,161 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,061 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Genuine Parts in the fourth quarter worth about $192,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of Genuine Parts in the third quarter worth about $217,000. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

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GPC stock opened at $86.52 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.34 and a quick ratio of 0.65. The firm has a market cap of $12,909.71, a P/E ratio of 20.70, a P/E/G ratio of 2.31 and a beta of 1.22. Genuine Parts has a 52-week low of $79.86 and a 52-week high of $107.75.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 20th. The specialty retailer reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a net margin of 3.78% and a return on equity of 20.48%. Genuine Parts’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 earnings per share. analysts anticipate that Genuine Parts will post 5.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.33%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, March 8th. Genuine Parts’s dividend payout ratio is 68.90%.

GPC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a report on Tuesday, February 6th. Royal Bank of Canada lowered their price target on shares of Genuine Parts to $100.00 and set a “market perform” rating on the stock in a report on Wednesday, February 21st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $107.00 price target (down from $114.00) on shares of Genuine Parts in a report on Wednesday, February 21st. Moffett Nathanson assumed coverage on shares of Genuine Parts in a research report on Monday, December 4th. They issued a “sell” rating on the stock. Finally, Bank of America decreased their price objective on shares of Genuine Parts from $90.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $97.71.

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About Genuine Parts

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.

Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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