New York State Common Retirement Fund Lowers Stake in Genuine Parts (NYSE:GPC)

New York State Common Retirement Fund decreased its stake in Genuine Parts (NYSE:GPCFree Report) by 16.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,246 shares of the specialty retailer’s stock after selling 23,324 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Genuine Parts worth $16,639,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. increased its holdings in Genuine Parts by 42.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 60 shares in the last quarter. Wetherby Asset Management Inc. increased its holdings in Genuine Parts by 3.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 2,101 shares of the specialty retailer’s stock valued at $352,000 after acquiring an additional 61 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in Genuine Parts by 1.8% during the 2nd quarter. Perigon Wealth Management LLC now owns 3,739 shares of the specialty retailer’s stock valued at $633,000 after acquiring an additional 65 shares in the last quarter. Legacy Capital Group California Inc. increased its holdings in Genuine Parts by 2.4% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,851 shares of the specialty retailer’s stock valued at $482,000 after acquiring an additional 67 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in Genuine Parts by 2.9% during the 3rd quarter. Federated Hermes Inc. now owns 2,402 shares of the specialty retailer’s stock valued at $359,000 after acquiring an additional 68 shares in the last quarter. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GPC shares. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $178.00 to $152.00 and set a “neutral” rating for the company in a report on Friday, October 20th. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. UBS Group began coverage on shares of Genuine Parts in a report on Thursday, October 12th. They set a “neutral” rating and a $160.00 price target for the company. Wedbush lowered their price target on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, October 20th. Finally, Truist Financial lowered their price target on shares of Genuine Parts from $172.00 to $155.00 and set a “buy” rating for the company in a report on Friday, October 20th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.11.

Get Our Latest Research Report on Genuine Parts

Genuine Parts Trading Down 1.6 %

Shares of GPC stock opened at $140.14 on Tuesday. The stock has a market cap of $19.65 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 1.56 and a beta of 0.94. The company has a quick ratio of 0.58, a current ratio of 1.16 and a debt-to-equity ratio of 0.71. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $181.37. The firm’s 50 day moving average price is $138.46 and its two-hundred day moving average price is $143.24.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were given a dividend of $0.95 per share. The ex-dividend date was Thursday, November 30th. This represents a $3.80 dividend on an annualized basis and a yield of 2.71%. Genuine Parts’s dividend payout ratio (DPR) is 42.99%.

Genuine Parts Company Profile

(Free Report)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.

Further Reading

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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