Lee Financial Co raised its stake in Genuine Parts Company (NYSE:GPC) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,637 shares of the specialty retailer’s stock after buying an additional 83 shares during the period. Lee Financial Co’s holdings in Genuine Parts were worth $615,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of GPC. Vanguard Group Inc. raised its position in shares of Genuine Parts by 4.7% in the first quarter. Vanguard Group Inc. now owns 15,429,332 shares of the specialty retailer’s stock valued at $1,425,824,000 after buying an additional 690,398 shares during the last quarter. BlackRock Inc. raised its position in shares of Genuine Parts by 2,130.1% in the first quarter. BlackRock Inc. now owns 14,442,228 shares of the specialty retailer’s stock valued at $1,334,608,000 after buying an additional 13,794,624 shares during the last quarter. State Street Corp raised its position in shares of Genuine Parts by 1.6% in the first quarter. State Street Corp now owns 8,672,362 shares of the specialty retailer’s stock valued at $801,408,000 after buying an additional 133,002 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Genuine Parts by 3.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,121,415 shares of the specialty retailer’s stock valued at $196,253,000 after buying an additional 80,600 shares during the last quarter. Finally, Thomaspartners Inc. raised its stake in Genuine Parts by 10.7% in the first quarter. Thomaspartners Inc. now owns 1,813,046 shares of the specialty retailer’s stock worth $167,544,000 after buying an additional 174,623 shares in the last quarter. Institutional investors own 73.28% of the company’s stock.
Genuine Parts Company (NYSE:GPC) traded up 0.63% during midday trading on Friday, hitting $82.81. 470,391 shares of the stock traded hands. The company’s 50 day moving average price is $85.57 and its 200 day moving average price is $91.67. The firm has a market cap of $12.16 billion, a PE ratio of 17.93 and a beta of 1.04. Genuine Parts Company has a 12 month low of $80.86 and a 12 month high of $105.18.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.02. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. Equities research analysts predict that Genuine Parts Company will post $4.73 earnings per share for the current fiscal year.
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A number of analysts have weighed in on GPC shares. Goldman Sachs Group, Inc. (The) lowered shares of Genuine Parts from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $104.00 to $89.00 in a research note on Thursday, July 6th. BidaskClub downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a report on Thursday, July 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $96.00 price objective on shares of Genuine Parts in a report on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Genuine Parts presently has an average rating of “Hold” and an average target price of $96.86.
Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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