State Board of Administration of Florida Retirement System Has $19.54 Million Stock Position in Genuine Parts (NYSE:GPC)

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State Board of Administration of Florida Retirement System decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,610 shares of the specialty retailer’s stock after selling 4,293 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.13% of Genuine Parts worth $19,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in Genuine Parts by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock valued at $188,434,000 after buying an additional 163,768 shares during the last quarter. Northern Trust Corp grew its stake in Genuine Parts by 3.2% in the 1st quarter. Northern Trust Corp now owns 1,789,057 shares of the specialty retailer’s stock valued at $200,428,000 after buying an additional 56,198 shares during the last quarter. Schafer Cullen Capital Management Inc grew its stake in Genuine Parts by 24.6% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 1,318,634 shares of the specialty retailer’s stock valued at $138,997,000 after buying an additional 260,407 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Genuine Parts by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 904,189 shares of the specialty retailer’s stock valued at $86,820,000 after buying an additional 22,731 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Genuine Parts by 14.0% in the 1st quarter. California Public Employees Retirement System now owns 861,503 shares of the specialty retailer’s stock valued at $96,514,000 after buying an additional 105,784 shares during the last quarter. Institutional investors own 77.93% of the company’s stock.

A number of research firms recently issued reports on GPC. Royal Bank of Canada set a $101.00 target price on shares of Genuine Parts and gave the company a “hold” rating in a research note on Friday, July 19th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price on the stock in a research note on Wednesday, July 24th. Stephens began coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They issued an “overweight” rating and a $114.00 target price on the stock. Jefferies Financial Group set a $102.00 target price on shares of Genuine Parts and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $105.75.

Shares of Genuine Parts stock opened at $87.73 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. Genuine Parts has a fifty-two week low of $87.34 and a fifty-two week high of $115.20. The firm has a fifty day moving average price of $96.20 and a two-hundred day moving average price of $102.83. The company has a market cap of $13.12 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 3.15 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $5 billion. During the same period last year, the company earned $1.59 earnings per share. Genuine Parts’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Genuine Parts will post 5.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a dividend of $0.7625 per share. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, September 5th. Genuine Parts’s payout ratio is 53.70%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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

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