Cigna Investments Inc. New lowered its position in shares of Genuine Parts Company (NYSE:GPC) by 8.4% during the second quarter, Holdings Channel reports. The fund owned 5,736 shares of the specialty retailer’s stock after selling 523 shares during the period. Cigna Investments Inc. New’s holdings in Genuine Parts were worth $536,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Macquarie Group Ltd. raised its position in shares of Genuine Parts by 21.1% in the fourth quarter. Macquarie Group Ltd. now owns 8,600 shares of the specialty retailer’s stock worth $822,000 after buying an additional 1,500 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of Genuine Parts by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 45,361 shares of the specialty retailer’s stock worth $4,191,000 after buying an additional 650 shares during the last quarter. National Pension Service raised its position in shares of Genuine Parts by 12.2% in the first quarter. National Pension Service now owns 141,369 shares of the specialty retailer’s stock worth $13,054,000 after buying an additional 15,385 shares during the last quarter. Tompkins Financial Corp raised its position in shares of Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock worth $186,000 after buying an additional 1,115 shares during the last quarter. Finally, Viking Fund Management LLC purchased a new position in shares of Genuine Parts during the first quarter worth $2,310,000. Hedge funds and other institutional investors own 73.51% of the company’s stock.
Genuine Parts Company (NYSE GPC) opened at 80.48 on Wednesday. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 17.42 and a beta of 1.04. Genuine Parts Company has a 52-week low of $79.86 and a 52-week high of $105.18. The company has a 50-day moving average price of $85.07 and a 200 day moving average price of $91.37.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.31 by $0.02. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company earned $1.28 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that Genuine Parts Company will post $4.73 earnings per share for the current year.
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GPC has been the subject of a number of research analyst reports. Jefferies Group LLC restated a “hold” rating and set a $95.00 price objective on shares of Genuine Parts in a research report on Tuesday, April 18th. Royal Bank Of Canada raised their price objective on Genuine Parts from $94.00 to $96.00 and gave the company a “sector perform” rating in a research report on Thursday, April 20th. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $104.00 price objective (up previously from $98.00) on shares of Genuine Parts in a research report on Saturday, April 22nd. Finally, BidaskClub upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Genuine Parts presently has an average rating of “Hold” and a consensus price target 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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