Keybank National Association OH lessened its holdings in Genuine Parts (NYSE:GPC) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,542 shares of the specialty retailer’s stock after selling 2,741 shares during the period. Keybank National Association OH’s holdings in Genuine Parts were worth $5,332,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in GPC. NEXT Financial Group Inc purchased a new stake in shares of Genuine Parts in the 2nd quarter valued at $26,000. Strategic Blueprint LLC purchased a new stake in shares of Genuine Parts in the 3rd quarter valued at $30,000. Marshall Wace North America L.P. purchased a new stake in shares of Genuine Parts in the 1st quarter valued at $44,000. CSat Investment Advisory L.P. raised its holdings in shares of Genuine Parts by 173.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 482 shares of the specialty retailer’s stock valued at $50,000 after buying an additional 306 shares during the period. Finally, Pflug Koory LLC purchased a new stake in shares of Genuine Parts in the 2nd quarter valued at $52,000. 77.50% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Randall P. Breaux sold 1,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was 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 in the company, valued at approximately $234,597.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on the company. Goldman Sachs Group downgraded Genuine Parts from a “neutral” rating to a “sell” rating and cut their price objective for the company from $101.00 to $93.00 in a report on Friday, October 25th. Royal Bank of Canada set a $99.00 price objective on Genuine Parts and gave the company a “hold” rating in a report on Friday, October 18th. Bank of America boosted their price objective on Genuine Parts from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. cut their price target on Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Jefferies Financial Group set a $102.00 price target on Genuine Parts and gave the stock a “hold” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $103.75.
NYSE GPC traded down $0.27 during trading hours on Friday, hitting $106.15. 534,603 shares of the company were exchanged, compared to its average volume of 818,828. The company has a 50 day moving average of $99.92 and a two-hundred day moving average of $98.64. The company has a quick ratio of 0.68, a current ratio of 1.26 and a debt-to-equity ratio of 0.98. Genuine Parts has a 52-week low of $87.26 and a 52-week high of $115.20. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 3.56 and a beta of 0.93.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results 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 return on equity of 23.20% and a net margin of 4.14%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the business earned $1.48 EPS. Genuine Parts’s revenue was up 6.2% on a year-over-year basis. On average, equities research analysts predict that Genuine Parts will post 5.66 EPS for the current 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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