Forsta AP Fonden Has $3.72 Million Stake in Genuine Parts Company (NYSE:GPC)

Key Points

• Forsta AP Fonden has reduced its stake in Genuine Parts Company by 8% during the first quarter, bringing its total shares owned to 31,200 worth approximately $3.7 million.
• Analysts have mixed ratings on Genuine Parts, with one "strong buy," four "buy," five "hold," and one "sell," reflecting a consensus rating of "Hold" and a price target of $135.29.
• In its latest earnings report, Genuine Parts Company posted $2.10 earnings per share, surpassing the expected $2.08, alongside a 3.4% revenue increase year-over-year, totaling $6.16 billion.

Forsta AP Fonden lessened its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 8.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,200 shares of the specialty retailer's stock after selling 2,700 shares during the period. Forsta AP Fonden's holdings in Genuine Parts were worth $3,717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new stake in Genuine Parts in the 1st quarter valued at $25,000. Olde Wealth Management LLC purchased a new position in Genuine Parts during the 1st quarter worth $27,000. North Capital Inc. purchased a new position in Genuine Parts during the 1st quarter worth $28,000. Investors Research Corp raised its position in Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after buying an additional 125 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in Genuine Parts by 7,950.0% during the 1st quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer's stock worth $38,000 after buying an additional 318 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Down 0.2%

Shares of GPC traded down $0.23 during mid-day trading on Friday, reaching $137.54. 462,918 shares of the stock traded hands, compared to its average volume of 1,407,222. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 23.67 and a beta of 0.75. The stock has a fifty day simple moving average of $126.71 and a 200 day simple moving average of $122.60. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $144.49. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts expect that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's payout ratio is presently 70.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group upped their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Loop Capital increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Evercore ISI cut their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $135.29.

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.