Genuine Parts (NYSE:GPC) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp lowered its position in shares of Genuine Parts (NYSE:GPC) by 67.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,676 shares of the specialty retailer’s stock after selling 24,697 shares during the period. Alaska Permanent Fund Corp’s holdings in Genuine Parts were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in GPC. Rafferty Asset Management LLC increased its holdings in shares of Genuine Parts by 5.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 11,478 shares of the specialty retailer’s stock worth $1,657,000 after buying an additional 627 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Genuine Parts in the 3rd quarter valued at approximately $1,739,000. Hsbc Holdings PLC increased its holdings in Genuine Parts by 7.9% in the 3rd quarter. Hsbc Holdings PLC now owns 315,521 shares of the specialty retailer’s stock valued at $45,553,000 after purchasing an additional 23,069 shares during the last quarter. Dark Forest Capital Management LP increased its holdings in Genuine Parts by 41.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 8,306 shares of the specialty retailer’s stock valued at $1,199,000 after purchasing an additional 2,449 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in Genuine Parts by 15.1% in the 3rd quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock valued at $20,427,000 after purchasing an additional 18,522 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $141.42 on Friday. The company’s fifty day moving average price is $149.85 and its 200 day moving average price is $146.27. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $170.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The firm has a market capitalization of $19.70 billion, a P/E ratio of 15.77 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the business earned $2.14 EPS. Genuine Parts’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $1.00 dividend. The ex-dividend date is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.83%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Analyst Upgrades and Downgrades

GPC has been the subject of several research reports. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Evercore ISI lifted their target price on shares of Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a report on Thursday. Jefferies Financial Group lifted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Wedbush reissued a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Finally, Truist Financial raised their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $172.44.

Genuine Parts Company 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.