Kentucky Retirement Systems Lowers Stock Position in Genuine Parts (NYSE:GPC)

Kentucky Retirement Systems trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,706 shares of the specialty retailer’s stock after selling 791 shares during the period. Kentucky Retirement Systems’ holdings in Genuine Parts were worth $1,356,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the 3rd quarter worth $31,000. Concord Wealth Partners increased its holdings in shares of 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 purchased a new stake in Genuine Parts during the third quarter worth about $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GPC shares. UBS Group dropped their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

NYSE:GPC opened at $124.18 on Tuesday. Genuine Parts has a 12-month low of $112.74 and a 12-month 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. The company’s 50-day moving average is $130.54 and its two-hundred day moving average is $138.08. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.49 EPS. Research analysts expect that Genuine Parts will post 8.09 EPS 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.