Whitnell & Co. boosted its position in Genuine Parts (NYSE:GPC) by 102.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,028 shares of the specialty retailer’s stock after acquiring an additional 3,051 shares during the quarter. Whitnell & Co.’s holdings in Genuine Parts were worth $600,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in GPC. NEXT Financial Group Inc bought a new stake in Genuine Parts in the 2nd quarter worth about $26,000. Strategic Blueprint LLC purchased a new position in Genuine Parts in the third quarter valued at about $30,000. Marshall Wace North America L.P. purchased a new position in Genuine Parts in the first quarter valued at about $44,000. CSat Investment Advisory L.P. boosted its stake in Genuine Parts by 173.9% in 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 purchased a new stake in shares of Genuine Parts during the 2nd quarter valued at approximately $52,000. 77.50% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on GPC shares. JPMorgan Chase & Co. dropped their price target on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price target on the stock in a research note on Wednesday, July 24th. 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 cut 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. Finally, Raymond James started coverage on shares of Genuine Parts in a report on Monday, October 7th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $103.75.
In other news, insider Randall P. Breaux sold 1,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $107.22, for a total value of $107,220.00. Following the transaction, the insider now owns 2,188 shares of the company’s stock, valued at approximately $234,597.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by corporate insiders.
Genuine Parts stock traded down $0.27 during midday trading on Friday, reaching $106.15. 534,603 shares of the stock were exchanged, compared to its average volume of 818,828. The company’s fifty day moving average is $99.92 and its 200-day moving average is $98.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 1.26. The firm has a market cap of $15.58 billion, a PE ratio of 18.69, a PEG ratio of 3.56 and a beta of 0.93. Genuine Parts has a 52 week low of $87.26 and a 52 week high of $115.20.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.03 billion. Genuine Parts had a net margin of 4.14% and a return on equity of 23.20%. Genuine Parts’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, sell-side analysts anticipate that Genuine Parts will post 5.66 earnings per share for the current fiscal year.
About Genuine Parts
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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