Pacer Advisors Inc. trimmed its stake in Genuine Parts (NYSE:GPC – Get Rating) by 81.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,867 shares of the specialty retailer’s stock after selling 47,610 shares during the period. Pacer Advisors Inc.’s holdings in Genuine Parts were worth $1,818,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Genuine Parts in the 4th quarter worth approximately $239,384,000. Capital World Investors bought a new position in shares of Genuine Parts in the 1st quarter worth approximately $124,130,000. Vanguard Group Inc. raised its position in shares of Genuine Parts by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after acquiring an additional 481,039 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Genuine Parts by 105.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 715,885 shares of the specialty retailer’s stock worth $106,896,000 after acquiring an additional 368,252 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Genuine Parts by 16,568.5% in the 1st quarter. Proficio Capital Partners LLC now owns 357,207 shares of the specialty retailer’s stock worth $357,000 after buying an additional 355,064 shares during the period. 78.14% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Genuine Parts
In other news, insider Randall P. Breaux acquired 500 shares of Genuine Parts stock in a transaction dated Thursday, June 1st. The stock was purchased at an average cost of $149.44 per share, with a total value of $74,720.00. Following the completion of the purchase, the insider now directly owns 20,523 shares in the company, valued at approximately $3,066,957.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Genuine Parts news, insider Randall P. Breaux acquired 500 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was purchased at an average price of $149.44 per share, with a total value of $74,720.00. Following the completion of the purchase, the insider now directly owns 20,523 shares in the company, valued at approximately $3,066,957.12. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul D. Donahue acquired 1,600 shares of the company’s stock in a transaction dated Friday, March 24th. The stock was acquired at an average cost of $156.08 per share, with a total value of $249,728.00. Following the purchase, the chief executive officer now owns 59,727 shares of the company’s stock, valued at $9,322,190.16. The disclosure for this purchase can be found here. Corporate insiders own 0.39% of the company’s stock.
Genuine Parts Stock Performance
Shares of GPC stock traded up $2.31 on Monday, reaching $158.13. The stock had a trading volume of 994,818 shares, compared to its average volume of 1,077,183. The stock has a market cap of $22.22 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.93 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.58 and a current ratio of 1.16. Genuine Parts has a 1 year low of $126.95 and a 1 year high of $187.73. The company has a 50 day simple moving average of $163.68 and a 200 day simple moving average of $169.03.
Genuine Parts (NYSE:GPC – Get Rating) last released its quarterly earnings results on Thursday, April 20th. The specialty retailer reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.11. Genuine Parts had a return on equity of 32.53% and a net margin of 5.50%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the company posted $1.86 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that Genuine Parts will post 9.06 EPS for the current year.
Genuine Parts Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, June 1st. Genuine Parts’s dividend payout ratio is presently 43.53%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on GPC shares. Wedbush reissued a “neutral” rating and issued a $165.00 price target on shares of Genuine Parts in a research report on Friday, April 21st. Bank of America raised Genuine Parts from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $189.00 in a research report on Thursday, June 1st. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and increased their price objective for the company from $163.00 to $164.00 in a research report on Monday, May 1st. They noted that the move was a valuation call. Truist Financial increased their price objective on shares of Genuine Parts from $186.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, April 21st. Finally, StockNews.com initiated coverage on shares of Genuine Parts in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $178.25.
Genuine Parts Profile
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.