Genuine Parts Company $GPC Shares Sold by Core Alternative Capital

Core Alternative Capital decreased its holdings in Genuine Parts Company (NYSE:GPC) by 12.7% in the 3rd quarter, Holdings Channel reports. The firm owned 27,583 shares of the specialty retailer’s stock after selling 3,995 shares during the period. Core Alternative Capital’s holdings in Genuine Parts were worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of GPC. Norges Bank acquired a new stake in shares of Genuine Parts during the second quarter worth about $211,661,000. Federated Hermes Inc. purchased a new stake in Genuine Parts during the 2nd quarter valued at approximately $107,015,000. Nomura Holdings Inc. lifted its position in Genuine Parts by 142.1% during the 2nd quarter. Nomura Holdings Inc. now owns 529,330 shares of the specialty retailer’s stock worth $64,213,000 after acquiring an additional 310,715 shares during the period. Pzena Investment Management LLC grew its stake in shares of Genuine Parts by 98.0% in the 2nd quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer’s stock valued at $72,307,000 after purchasing an additional 295,064 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Genuine Parts by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock valued at $2,099,776,000 after purchasing an additional 260,787 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPC has been the subject of several recent research reports. Evercore ISI increased their price target on Genuine Parts from $148.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. UBS Group increased their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.00.

Genuine Parts Price Performance

GPC stock opened at $139.27 on Wednesday. The firm has a 50 day moving average of $129.24 and a 200-day moving average of $132.07. The company has a market cap of $19.37 billion, a price-to-earnings ratio of 23.97 and a beta of 0.75. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $143.48.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, December 5th. Genuine Parts’s payout ratio is presently 70.91%.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.