Genuine Parts Company (NYSE:GPC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,009 shares of the specialty retailer's stock after selling 3,200 shares during the period. New York State Common Retirement Fund's holdings in Genuine Parts were worth $7,507,000 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 recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Genuine Parts by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after purchasing an additional 65,783 shares in the last quarter. Invesco Ltd. raised its holdings 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 acquiring an additional 518,851 shares during the period. Stifel Financial Corp raised its holdings in shares of Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after acquiring an additional 445,259 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after acquiring an additional 104,343 shares during the period. Finally, Norges Bank purchased a new position in shares of Genuine Parts during the 4th quarter worth $206,645,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI reduced their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Wall Street Zen downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Truist Financial lifted their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Stock Up 0.9%

GPC traded up $1.09 on Monday, reaching $124.00. The company's stock had a trading volume of 1,570,251 shares, compared to its average volume of 1,424,575. The stock has a 50 day moving average of $124.24 and a two-hundred day moving average of $120.66. The company has a quick ratio of 0.52, a current ratio of 1.15 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of 20.36 and a beta of 0.74. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. As a group, analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, June 6th. Genuine Parts's payout ratio is currently 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.