Pacer Advisors Inc. Lowers Position in Genuine Parts Company (NYSE:GPC)

Pacer Advisors Inc. lessened its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 36.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,099 shares of the specialty retailer's stock after selling 4,602 shares during the period. Pacer Advisors Inc.'s holdings in Genuine Parts were worth $965,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Neo Ivy Capital Management purchased a new position in Genuine Parts in the 1st quarter worth approximately $1,481,000. Assetmark Inc. grew its stake in Genuine Parts by 40.0% in the 1st quarter. Assetmark Inc. now owns 23,252 shares of the specialty retailer's stock worth $2,770,000 after buying an additional 6,644 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Genuine Parts by 0.3% in the 1st quarter. Cetera Investment Advisers now owns 134,251 shares of the specialty retailer's stock worth $15,995,000 after acquiring an additional 341 shares during the last quarter. Hamilton Point Investment Advisors LLC lifted its holdings in shares of Genuine Parts by 0.7% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 34,982 shares of the specialty retailer's stock worth $4,204,000 after acquiring an additional 247 shares during the last quarter. Finally, Lifeworks Advisors LLC lifted its holdings in shares of Genuine Parts by 8.1% in the 1st quarter. Lifeworks Advisors LLC now owns 3,395 shares of the specialty retailer's stock worth $404,000 after acquiring an additional 254 shares during the last quarter. 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. Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Truist Financial upped their target price on shares of Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Evercore ISI cut their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $135.29.

Genuine Parts Price Performance

GPC traded down $3.25 during trading on Thursday, reaching $128.78. 2,190,627 shares of the company traded hands, compared to its average volume of 1,186,732. The firm has a fifty day simple moving average of $125.32 and a 200 day simple moving average of $121.55. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.51 and a current ratio of 1.14. The company has a market cap of $17.91 billion, a P/E ratio of 22.16 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. Genuine Parts's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 earnings per share. On average, equities analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts 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.