Genuine Parts Company (NYSE:GPC) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in Genuine Parts Company (NYSE:GPC) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 39,279 shares of the specialty retailer’s stock after acquiring an additional 425 shares during the quarter. State of Alaska Department of Revenue’s holdings in Genuine Parts were worth $4,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at $25,000. Kestra Investment Management LLC purchased a new stake in Genuine Parts in the 4th quarter worth $28,000. First Command Advisory Services Inc. purchased a new stake in Genuine Parts in the 4th quarter worth $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts in the 4th quarter worth $29,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Genuine Parts in the 4th quarter worth $33,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Genuine Parts stock opened at $119.63 on Friday. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $149.22. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 19.64 and a beta of 0.76. The company has a fifty day simple moving average of $121.28 and a 200-day simple moving average of $120.03. The company has a quick ratio of 0.52, a current ratio of 1.15 and a debt-to-equity ratio of 0.85.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. On average, equities analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio is currently 67.65%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GPC. Truist Financial boosted their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Evercore ISI cut their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Argus raised shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $130.86.

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.