Mercer Global Advisors Inc. ADV Sells 2,132 Shares of Genuine Parts (NYSE:GPC)

Mercer Global Advisors Inc. ADV cut its holdings in Genuine Parts (NYSE:GPC) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,328 shares of the specialty retailer’s stock after selling 2,132 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Genuine Parts were worth $2,812,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Assetmark Inc. increased its holdings in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. Franklin Resources Inc. grew its holdings in Genuine Parts by 7.0% during the fourth quarter. Franklin Resources Inc. now owns 83,808 shares of the specialty retailer’s stock valued at $11,607,000 after purchasing an additional 5,493 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Genuine Parts by 14.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 238,202 shares of the specialty retailer’s stock valued at $32,991,000 after purchasing an additional 30,262 shares during the period. Cape Investment Advisory Inc. raised its position in shares of Genuine Parts by 33.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,564 shares of the specialty retailer’s stock valued at $217,000 after purchasing an additional 392 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Genuine Parts in the fourth quarter worth $19,097,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $137.02 on Monday. The firm has a market capitalization of $19.09 billion, a PE ratio of 15.28 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The business’s 50 day moving average is $139.73 and its 200-day moving average is $145.26.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $2.44 EPS. Sell-side analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio is 44.59%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GPC. Truist Financial reiterated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. The Goldman Sachs Group dropped their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. UBS Group decreased their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Evercore ISI lowered their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $161.14.

About Genuine Parts

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.