Public Employees Retirement Association of Colorado Sells 178 Shares of Genuine Parts (NYSE:GPC)

Public Employees Retirement Association of Colorado lowered its stake in shares of Genuine Parts (NYSE:GPC) by 0.2% during the second quarter, HoldingsChannel reports. The firm owned 116,162 shares of the specialty retailer’s stock after selling 178 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Genuine Parts were worth $16,068,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. raised its position in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the 1st quarter worth about $26,000. Union Savings Bank raised its holdings in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Thompson Investment Management Inc. acquired a new stake in Genuine Parts in the 1st quarter valued at about $35,000. Finally, Stephens Consulting LLC grew its holdings in Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

NYSE:GPC opened at $137.02 on Friday. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm’s 50-day simple moving average is $139.76 and its 200 day simple moving average is $145.41. The firm has a market cap of $19.09 billion, a price-to-earnings ratio of 15.28 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 earnings per share. As a group, sell-side analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GPC shares. Evercore ISI cut their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Wedbush cut their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a report on Wednesday, August 28th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Finally, UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $161.14.

About Genuine Parts

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.