Genuine Parts (NYSE:GPC) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Genuine Parts (NYSE:GPC) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,125 shares of the specialty retailer’s stock after selling 368 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Genuine Parts were worth $576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts during the 3rd quarter worth about $31,000. Concord Wealth Partners raised its position in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Genuine Parts in the 2nd quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts during the third quarter worth about $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Wedbush decreased their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Performance

Shares of GPC stock opened at $124.18 on Tuesday. The stock’s 50-day moving average is $130.54 and its two-hundred day moving average is $138.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a market cap of $17.27 billion, a price-to-earnings ratio of 15.98 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the business earned $2.49 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Company 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.