Benedict Financial Advisors Inc. decreased its stake in Genuine Parts (NYSE:GPC) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,575 shares of the specialty retailer’s stock after selling 107 shares during the period. Benedict Financial Advisors Inc.’s holdings in Genuine Parts were worth $954,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of GPC. NEXT Financial Group Inc bought a new position in shares of Genuine Parts during the second quarter valued at $26,000. Strategic Blueprint LLC bought a new position in shares of Genuine Parts during the third quarter valued at $30,000. Marshall Wace North America L.P. bought a new position in shares of Genuine Parts during the first quarter valued at $44,000. CSat Investment Advisory L.P. raised its stake in shares of Genuine Parts by 173.9% during the second quarter. CSat Investment Advisory L.P. now owns 482 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 306 shares during the last quarter. Finally, Pflug Koory LLC bought a new position in shares of Genuine Parts during the second quarter valued at $52,000. 77.50% of the stock is owned by institutional investors and hedge funds.
GPC opened at $107.74 on Thursday. Genuine Parts has a twelve month low of $87.26 and a twelve month high of $115.20. The company has a quick ratio of 0.68, a current ratio of 1.26 and a debt-to-equity ratio of 0.98. The company has a fifty day moving average of $99.58 and a 200-day moving average of $98.63. The stock has a market cap of $15.65 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 3.47 and a beta of 0.93.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. Genuine Parts had a net margin of 4.14% and a return on equity of 23.20%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the company posted $1.48 earnings per share. Genuine Parts’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Genuine Parts will post 5.66 EPS for the current fiscal year.
Several research firms have recently issued reports on GPC. Jefferies Financial Group set a $102.00 price target on shares of Genuine Parts and gave the company a “hold” rating in a research note on Friday, July 19th. Royal Bank of Canada set a $99.00 price target on shares of Genuine Parts and gave the company a “hold” rating in a research note on Friday, October 18th. Goldman Sachs Group downgraded shares of Genuine Parts from a “neutral” rating to a “sell” rating and dropped their price target for the company from $101.00 to $93.00 in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Finally, Bank of America increased their price objective on shares of Genuine Parts from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $103.75.
Genuine Parts Profile
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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