Chicago Partners Investment Group LLC boosted its stake in Genuine Parts (NYSE:GPC) by 36.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,848 shares of the specialty retailer’s stock after purchasing an additional 1,299 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Genuine Parts were worth $484,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GPC. Bank of America Corp DE raised its stake in Genuine Parts by 318.5% during the second quarter. Bank of America Corp DE now owns 7,036,209 shares of the specialty retailer’s stock worth $645,853,000 after acquiring an additional 5,354,849 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in Genuine Parts during the second quarter worth about $205,387,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Genuine Parts by 23.3% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,533,815 shares of the specialty retailer’s stock worth $324,369,000 after acquiring an additional 667,620 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in Genuine Parts by 9,752.8% during the second quarter. Cornerstone Wealth Management LLC now owns 391,847 shares of the specialty retailer’s stock worth $4,306,000 after acquiring an additional 387,870 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Genuine Parts during the second quarter worth about $10,749,000. 76.49% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE GPC opened at $100.61 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.33 and a quick ratio of 0.71. The stock has a market cap of $14.74 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.67 and a beta of 1.11. Genuine Parts has a 12 month low of $84.71 and a 12 month high of $107.75.
Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, October 18th. The specialty retailer reported $1.48 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 during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. On average, sell-side analysts predict that Genuine Parts will post 5.65 earnings per share for the current year.
Several research analysts have commented on the company. ValuEngine downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Wedbush boosted their target price on Genuine Parts from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, July 20th. Bank of America downgraded Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a research note on Tuesday, October 30th. Finally, Zacks Investment Research downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $104.60.
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About Genuine Parts
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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