Genuine Parts Company (NYSE:GPC) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in Genuine Parts Company (NYSE:GPC) by 36.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,099 shares of the specialty retailer’s stock after selling 4,602 shares during the quarter. Pacer Advisors Inc.’s holdings in Genuine Parts were worth $965,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new stake in shares of Genuine Parts during the first quarter worth $25,000. Olde Wealth Management LLC acquired a new position in Genuine Parts during the first quarter worth about $27,000. North Capital Inc. purchased a new stake in Genuine Parts during the 1st quarter valued at about $28,000. Aster Capital Management DIFC Ltd acquired a new stake in Genuine Parts in the 4th quarter valued at about $33,000. Finally, Investors Research Corp raised its holdings in Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

NYSE GPC opened at $132.10 on Thursday. The stock has a fifty day simple moving average of $125.28 and a 200-day simple moving average of $121.46. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79. The stock has a market cap of $18.37 billion, a PE ratio of 22.74 and a beta of 0.74. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $149.22.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. Genuine Parts’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Wall Street Analyst Weigh In

GPC has been the topic of several recent research reports. Wall Street Zen cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. JPMorgan Chase & Co. boosted their price objective on Genuine Parts from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Evercore ISI dropped their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Loop Capital lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, UBS Group upped their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $135.29.

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.