Kentucky Retirement Systems Insurance Trust Fund Lowers Stock Holdings in Genuine Parts (NYSE:GPC)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in shares of Genuine Parts (NYSE:GPC) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,125 shares of the specialty retailer’s stock after selling 368 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Genuine Parts were worth $576,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its holdings in shares of Genuine Parts by 137.9% during the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock worth $3,560,000 after purchasing an additional 13,330 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Genuine Parts by 13.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 18,915 shares of the specialty retailer’s stock worth $2,930,000 after acquiring an additional 2,249 shares during the period. Seven Eight Capital LP boosted its holdings in shares of Genuine Parts by 116.7% in the first quarter. Seven Eight Capital LP now owns 8,535 shares of the specialty retailer’s stock valued at $1,322,000 after acquiring an additional 4,597 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in shares of Genuine Parts by 422.7% during the first quarter. UniSuper Management Pty Ltd now owns 7,840 shares of the specialty retailer’s stock worth $1,215,000 after acquiring an additional 6,340 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new position in Genuine Parts during the first quarter worth about $278,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPC has been the topic of a number of recent analyst reports. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Evercore ISI increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Finally, UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Up 1.3 %

Shares of NYSE GPC opened at $124.18 on Tuesday. The firm’s 50-day moving average is $130.54 and its two-hundred day moving average is $138.08. The company has a market capitalization of $17.27 billion, a PE ratio of 15.98 and a beta of 0.92. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last posted its 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 net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the previous year, the company posted $2.49 EPS. Genuine Parts’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal 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.