California Public Employees Retirement System Has $69.13 Million Holdings in Genuine Parts (NYSE:GPC)

California Public Employees Retirement System lessened its position in shares of Genuine Parts (NYSE:GPC) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 592,030 shares of the specialty retailer’s stock after selling 8,825 shares during the period. California Public Employees Retirement System’s holdings in Genuine Parts were worth $69,125,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in Genuine Parts in the 4th quarter valued at $25,000. Kestra Investment Management LLC bought a new stake in shares of Genuine Parts in the fourth quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts in the fourth quarter valued at about $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts during the fourth quarter worth about $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts in the 4th quarter worth about $32,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the topic of a number of analyst reports. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI dropped their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $137.63.

Genuine Parts Price Performance

Shares of GPC stock opened at $119.27 on Tuesday. The business has a fifty day simple moving average of $121.14 and a 200 day simple moving average of $123.88. The company has a market cap of $16.55 billion, a P/E ratio of 18.43 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the company posted $2.26 EPS. On average, sell-side analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is presently 63.68%.

Genuine Parts Company 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.