Kentucky Retirement Systems Insurance Trust Fund Has $638,000 Holdings in Genuine Parts (NYSE:GPC)

Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Genuine Parts (NYSE:GPC) by 32.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,466 shares of the specialty retailer’s stock after acquiring an additional 1,341 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Genuine Parts were worth $638,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GPC. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth about $28,000. CIBC Asset Management Inc increased its position in Genuine Parts by 2.3% in the 4th quarter. CIBC Asset Management Inc now owns 24,311 shares of the specialty retailer’s stock worth $2,839,000 after buying an additional 543 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Genuine Parts by 19.6% during the fourth quarter. Sanctuary Advisors LLC now owns 26,483 shares of the specialty retailer’s stock worth $3,129,000 after buying an additional 4,334 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Genuine Parts by 61.8% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 16,592 shares of the specialty retailer’s stock valued at $1,937,000 after acquiring an additional 6,339 shares during the period. Finally, Rogco LP grew its stake in shares of Genuine Parts by 2.3% in the fourth quarter. Rogco LP now owns 5,865 shares of the specialty retailer’s stock worth $685,000 after acquiring an additional 131 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GPC. UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $137.63.

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by insiders.

Genuine Parts Stock Up 0.3 %

NYSE GPC opened at $122.03 on Thursday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a market capitalization of $16.97 billion, a price-to-earnings ratio of 15.71 and a beta of 0.94. The stock’s 50 day moving average is $118.25 and its two-hundred day moving average is $127.30. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. Equities analysts forecast that Genuine Parts will post 8.08 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.38%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

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.