Genuine Parts (NYSE:GPC) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in shares of Genuine Parts (NYSE:GPC) by 45.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,207 shares of the specialty retailer’s stock after purchasing an additional 6,911 shares during the period. Canada Pension Plan Investment Board’s holdings in Genuine Parts were worth $3,072,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GPC. Manchester Capital Management LLC grew its position in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares during the period. North Star Investment Management Corp. increased its position in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the last quarter. CHICAGO TRUST Co NA raised its holdings in Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after buying an additional 71 shares during the period. First Citizens Bank & Trust Co. lifted its position in Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after buying an additional 75 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its stake in Genuine Parts by 1.8% during the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after buying an additional 80 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $138.52 on Thursday. The business has a 50-day simple moving average of $139.51 and a 200-day simple moving average of $145.04. The company has a market cap of $19.30 billion, a PE ratio of 15.44 and a beta of 0.90. Genuine Parts has a one year low of $126.35 and a one year 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.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.89%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Ratings Changes

Several equities analysts have recently commented on GPC shares. The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Wedbush cut their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Evercore ISI lowered their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Finally, Truist Financial reiterated a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $161.14.

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.