Exxonmobil Investment Management Inc. TX lowered its position in Genuine Parts Company (NYSE:GPC) by 14.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,299 shares of the specialty retailer’s stock after selling 4,651 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Genuine Parts were worth $2,625,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Thrivent Financial for Lutherans raised its position in shares of Genuine Parts by 6.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,290 shares of the specialty retailer’s stock worth $506,000 after buying an additional 340 shares in the last quarter. Dodge & Cox bought a new position in shares of Genuine Parts during the fourth quarter worth approximately $2,098,000. UBS Asset Management Americas Inc. raised its position in shares of Genuine Parts by 12.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 517,188 shares of the specialty retailer’s stock worth $49,413,000 after buying an additional 56,636 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of Genuine Parts during the fourth quarter worth approximately $1,031,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Genuine Parts during the fourth quarter worth approximately $460,000. 73.28% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Company (NYSE:GPC) traded up 0.63% on Friday, reaching $82.81. 470,391 shares of the company traded hands. Genuine Parts Company has a 52-week low of $80.86 and a 52-week high of $105.18. The firm has a market cap of $12.16 billion, a P/E ratio of 17.93 and a beta of 1.04. The stock has a 50-day moving average price of $85.77 and a 200-day moving average price of $91.76.
Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.05 billion. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. Genuine Parts’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.28 earnings per share. Analysts anticipate that Genuine Parts Company will post $4.73 earnings per share for the current fiscal year.
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A number of brokerages have recently commented on GPC. BidaskClub raised shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Friday, July 21st. Goldman Sachs Group, Inc. (The) lowered shares of Genuine Parts from a “neutral” rating to a “sell” rating and cut their price objective for the company from $104.00 to $89.00 in a research report on Thursday, July 6th. Finally, Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $96.86.
About Genuine Parts
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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