Genuine Parts Company $GPC Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in Genuine Parts Company (NYSE:GPC) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,909 shares of the specialty retailer’s stock after selling 91,949 shares during the period. California Public Employees Retirement System owned about 0.34% of Genuine Parts worth $57,733,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in shares of Genuine Parts by 8,833.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after buying an additional 265 shares during the last quarter. Concord Wealth Partners increased its holdings in Genuine Parts by 148.7% during the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after acquiring an additional 177 shares in the last quarter. Hantz Financial Services Inc. raised its position in Genuine Parts by 7,825.0% during the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 313 shares during the last quarter. Quaker Wealth Management LLC lifted its holdings in shares of Genuine Parts by 11,533.3% in the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 346 shares in the last quarter. Finally, Cromwell Holdings LLC grew its position in shares of Genuine Parts by 49.1% in the second quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 114 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, EVP Naveen Krishna sold 5,303 shares of Genuine Parts stock in a transaction on Friday, September 26th. The shares were sold at an average price of $138.12, for a total value of $732,450.36. Following the transaction, the executive vice president owned 26,112 shares in the company, valued at $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.42% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. UBS Group increased their price objective on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Evercore ISI lifted their price objective on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Genuine Parts in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $126.49 on Wednesday. The company has a market cap of $17.60 billion, a P/E ratio of 21.77 and a beta of 0.74. The business has a fifty day simple moving average of $130.07 and a 200-day simple moving average of $130.69. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $143.48. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). Genuine Parts had a return on equity of 22.57% and a net margin of 3.36%.The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same period in the previous year, the business posted $1.88 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. Equities research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Friday, December 5th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 3.3%. Genuine Parts’s dividend payout ratio is 70.91%.

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.