Gamble Jones Investment Counsel reduced its stake in shares of Genuine Parts (NYSE:GPC) by 1.9% in the third quarter, HoldingsChannel.com reports. The fund owned 10,057 shares of the specialty retailer’s stock after selling 200 shares during the quarter. Gamble Jones Investment Counsel’s holdings in Genuine Parts were worth $1,002,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of GPC. NEXT Financial Group Inc bought a new stake in Genuine Parts in the second quarter worth $26,000. Strategic Blueprint LLC bought a new stake in Genuine Parts in the third quarter worth $30,000. Marshall Wace North America L.P. bought a new stake in Genuine Parts in the first quarter worth $44,000. CSat Investment Advisory L.P. lifted 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 worth $50,000 after purchasing an additional 306 shares during the last quarter. Finally, Pflug Koory LLC bought a new stake in Genuine Parts in the second quarter worth $52,000. 77.50% of the stock is owned by institutional investors and hedge funds.
In other Genuine Parts news, insider Randall P. Breaux sold 1,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $234,597.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is currently owned by insiders.
Several research firms have weighed in on GPC. Bank of America boosted their price target on shares of Genuine Parts from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada set a $99.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group set a $102.00 price target on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Raymond James began coverage on shares of Genuine Parts in a research note on Monday, October 7th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $103.75.
Shares of GPC stock traded down $0.27 during mid-day trading on Friday, reaching $106.15. The stock had a trading volume of 534,603 shares, compared to its average volume of 818,828. The stock’s 50-day moving average price is $99.92 and its two-hundred day moving average price is $98.64. Genuine Parts has a 52-week low of $87.26 and a 52-week high of $115.20. The firm has a market capitalization of $15.58 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 3.56 and a beta of 0.93. The company has a current ratio of 1.26, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, October 17th. The specialty retailer reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. Genuine Parts had a net margin of 4.14% and a return on equity of 23.20%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts forecast that Genuine Parts will post 5.66 earnings per share for the current year.
Genuine Parts Profile
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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