Retirement Systems of Alabama Sells 226 Shares of Genuine Parts Company (NYSE:GPC)

Retirement Systems of Alabama decreased its position in Genuine Parts Company (NYSE:GPC) by 0.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 29,877 shares of the specialty retailer’s stock after selling 226 shares during the period. Retirement Systems of Alabama’s holdings in Genuine Parts were worth $3,560,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of GPC. Norges Bank bought a new stake in Genuine Parts in the 4th quarter valued at approximately $206,645,000. Junto Capital Management LP bought a new stake in shares of Genuine Parts during the 4th quarter worth approximately $94,868,000. Equity Investment Corp bought a new stake in shares of Genuine Parts during the 4th quarter worth approximately $84,128,000. Alyeska Investment Group L.P. raised its stake in shares of Genuine Parts by 204.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock worth $92,129,000 after purchasing an additional 530,057 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock worth $380,898,000 after purchasing an additional 518,851 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the topic of a number of analyst reports. Evercore ISI dropped their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Argus upgraded Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Wall Street Zen cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.86.

Genuine Parts Stock Down 1.7%

GPC stock opened at $119.14 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $16.54 billion, a PE ratio of 19.56 and a beta of 0.76. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22. The business’s 50 day simple moving average is $121.66 and its 200 day simple moving average is $119.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. As a group, research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio is 67.65%.

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.