Alaska Permanent Fund Corp Has $5.04 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Alaska Permanent Fund Corp cut its stake in Genuine Parts (NYSE:GPC) by 30.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,373 shares of the specialty retailer’s stock after selling 15,651 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Genuine Parts were worth $5,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Amalgamated Bank grew its position in shares of Genuine Parts by 10.7% in the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after purchasing an additional 4,047 shares during the last quarter. Conning Inc. lifted its stake in shares of Genuine Parts by 5.9% in the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after buying an additional 12,634 shares during the period. Hunter Associates Investment Management LLC lifted its stake in shares of Genuine Parts by 20.7% in the fourth quarter. Hunter Associates Investment Management LLC now owns 11,891 shares of the specialty retailer’s stock valued at $1,646,000 after buying an additional 2,041 shares during the period. Teza Capital Management LLC bought a new stake in shares of Genuine Parts in the third quarter valued at about $1,593,000. Finally, Schwartz Investment Counsel Inc. lifted its stake in shares of Genuine Parts by 26.2% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock valued at $33,309,000 after buying an additional 50,000 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded down $2.10 during midday trading on Thursday, reaching $159.70. The company had a trading volume of 126,863 shares, compared to its average volume of 1,052,478. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $22.25 billion, a price-to-earnings ratio of 18.04 and a beta of 0.94. The stock has a fifty day simple moving average of $151.08 and a 200 day simple moving average of $142.62. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the business earned $2.14 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts forecast that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GPC shares. Truist Financial increased their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Evercore ISI cut their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Jefferies Financial Group raised their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $173.10.

About Genuine Parts

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.