Kentucky Retirement Systems Insurance Trust Fund Sells 368 Shares of Genuine Parts (NYSE:GPC)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 7.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,627 shares of the specialty retailer’s stock after selling 368 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Genuine Parts were worth $717,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. WD Rutherford LLC bought a new stake in shares of Genuine Parts in the 1st quarter worth $26,000. Assetmark Inc. grew its stake in shares of Genuine Parts by 109.1% in the 4th 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. Union Savings Bank grew its stake 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 worth $31,000 after acquiring an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts in the 1st quarter worth $35,000. Finally, Stephens Consulting LLC grew its stake in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC traded up $4.00 on Friday, reaching $141.97. 988,185 shares of the company’s stock were exchanged, compared to its average volume of 1,197,496. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.59. The firm has a market cap of $19.78 billion, a price-to-earnings ratio of 15.83 and a beta of 0.92. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The stock has a fifty day simple moving average of $140.29 and a 200-day simple moving average of $146.41.

Genuine Parts (NYSE:GPC) last issued its 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 for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a $1.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.82%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GPC shares. Evercore ISI reduced their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday. UBS Group cut their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Truist Financial cut their price target on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group boosted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. 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, the company presently has a consensus rating of “Hold” and a consensus price target 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.