State Board of Administration of Florida Retirement System trimmed its position in Genuine Parts (NYSE:GPC) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,876 shares of the specialty retailer’s stock after selling 4,040 shares during the period. State Board of Administration of Florida Retirement System owned about 0.13% of Genuine Parts worth $19,172,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GPC. Bank of America Corp DE increased its stake in shares of Genuine Parts by 318.5% during the 2nd quarter. Bank of America Corp DE now owns 7,036,209 shares of the specialty retailer’s stock valued at $645,853,000 after acquiring an additional 5,354,849 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Genuine Parts during the 2nd quarter valued at about $205,387,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Genuine Parts by 23.3% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,533,815 shares of the specialty retailer’s stock valued at $324,369,000 after acquiring an additional 667,620 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Genuine Parts by 9,752.8% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 391,847 shares of the specialty retailer’s stock valued at $4,306,000 after acquiring an additional 387,870 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Genuine Parts during the 2nd quarter valued at about $10,749,000. Institutional investors own 76.49% of the company’s stock.
Shares of GPC opened at $100.61 on Friday. Genuine Parts has a 12-month low of $84.71 and a 12-month high of $107.75. The firm has a market cap of $14.74 billion, a P/E ratio of 18.40, a PEG ratio of 2.67 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, October 18th. The specialty retailer reported $1.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.48. Genuine Parts had a return on equity of 22.54% and a net margin of 3.99%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same period last year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, analysts predict that Genuine Parts will post 5.65 EPS for the current fiscal year.
A number of research analysts have recently commented on the stock. Wedbush upped their price objective on shares of Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, July 20th. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Bank of America downgraded shares of Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a research report on Tuesday, October 30th. Finally, Zacks Investment Research downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Genuine Parts presently has an average rating of “Hold” and a consensus price target of $104.60.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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