Kentucky Retirement Systems Decreases Stock Holdings in Genuine Parts (NYSE:GPC)

Kentucky Retirement Systems cut its holdings in Genuine Parts (NYSE:GPC) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,574 shares of the specialty retailer’s stock after selling 132 shares during the quarter. Kentucky Retirement Systems’ holdings in Genuine Parts were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts during the 3rd quarter valued at $31,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter worth about $28,000. Concord Wealth Partners boosted its position in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of Genuine Parts in the 4th quarter worth approximately $32,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Down 1.3 %

GPC stock opened at $121.68 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 18.81 and a beta of 0.94. The business’s 50-day moving average is $118.29 and its two-hundred day moving average is $126.99. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the previous year, the business earned $2.26 earnings per share. As a group, analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.39%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is currently 63.68%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, Evercore ISI lowered their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $137.63.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction 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 transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

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.