American Century Companies Inc. reduced its position in shares of Genuine Parts (NYSE:GPC – Free Report) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,905 shares of the specialty retailer’s stock after selling 7,338 shares during the period. American Century Companies Inc. owned about 0.06% of Genuine Parts worth $14,644,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Genuine Parts by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after acquiring an additional 1,180 shares in the last quarter. Cibc World Market Inc. grew its position in Genuine Parts by 14.8% in the first quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after purchasing an additional 354 shares in the last quarter. Sei Investments Co. increased its stake in Genuine Parts by 9.4% in the 1st quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after buying an additional 4,372 shares during the last quarter. Aviva PLC lifted its position in Genuine Parts by 63.1% during the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock worth $9,949,000 after buying an additional 30,545 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Genuine Parts by 195.1% during the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock worth $14,408,000 after buying an additional 75,591 shares during the last quarter. 77.51% of the stock is currently owned by institutional investors.
Genuine Parts Stock Up 0.9 %
Shares of GPC opened at $155.04 on Friday. The firm has a market cap of $21.77 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.58 and a current ratio of 1.15. Genuine Parts has a 52 week low of $145.30 and a 52 week high of $187.73. The firm’s 50-day simple moving average is $159.60 and its 200 day simple moving average is $163.47.
Genuine Parts Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a $0.95 dividend. The ex-dividend date is Thursday, September 7th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.45%. Genuine Parts’s payout ratio is presently 44.44%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $190.00 to $184.00 and set an “overweight” rating on the stock in a research note on Friday, July 21st. Truist Financial cut their price target on shares of Genuine Parts from $195.00 to $191.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Stephens dropped their target price on shares of Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday, July 21st. StockNews.com started coverage on shares of Genuine Parts in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Evercore ISI lowered their price target on Genuine Parts from $170.00 to $165.00 in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.00.
Get Our Latest Report on Genuine Parts
Genuine Parts Profile
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.
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