Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Holdings in Genuine Parts (NYSE:GPC)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 620,013 shares of the specialty retailer’s stock after selling 6,051 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.43% of Genuine Parts worth $53,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GPC. Norges Bank purchased a new position in shares of Genuine Parts during the fourth quarter worth about $147,747,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Genuine Parts by 23.2% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,131,514 shares of the specialty retailer’s stock worth $412,835,000 after purchasing an additional 1,152,699 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in shares of Genuine Parts during the first quarter worth about $3,096,000. Cullen Capital Management LLC grew its holdings in shares of Genuine Parts by 98.1% during the first quarter. Cullen Capital Management LLC now owns 1,253,267 shares of the specialty retailer’s stock worth $84,382,000 after purchasing an additional 620,612 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Genuine Parts by 314.5% during the first quarter. APG Asset Management N.V. now owns 435,000 shares of the specialty retailer’s stock worth $43,401,000 after purchasing an additional 330,058 shares in the last quarter. 77.37% of the stock is owned by institutional investors.

GPC has been the subject of several recent analyst reports. S&P Equity Research cut their price objective on Genuine Parts from $85.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. cut their target price on Genuine Parts from $107.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Bank of America upped their target price on Genuine Parts from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Sunday, April 19th. Royal Bank of Canada boosted their price objective on Genuine Parts from $80.00 to $90.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 28th. Finally, Cfra lowered their price objective on Genuine Parts from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $91.14.

Shares of Genuine Parts stock opened at $90.15 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. The company has a market cap of $13.01 billion, a PE ratio of 17.71, a P/E/G ratio of 14.61 and a beta of 1.10. The business has a 50 day moving average of $86.92 and a 200 day moving average of $83.69. Genuine Parts has a 52 week low of $49.68 and a 52 week high of $108.58.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 30th. The specialty retailer reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.39. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Genuine Parts had a positive return on equity of 21.67% and a negative net margin of 1.06%. On average, research analysts anticipate that Genuine Parts will post 4.13 earnings per share 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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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