Stone Ridge Asset Management LLC boosted its stake in shares of Genuine Parts (NYSE:GPC) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,255 shares of the specialty retailer’s stock after buying an additional 1,100 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Genuine Parts were worth $1,727,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Strategic Blueprint LLC purchased a new position in shares of Genuine Parts in the third quarter valued at approximately $30,000. Allworth Financial LP boosted its stake in shares of Genuine Parts by 61.5% in the fourth quarter. Allworth Financial LP now owns 323 shares of the specialty retailer’s stock valued at $34,000 after purchasing an additional 123 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Genuine Parts in the first quarter valued at approximately $44,000. Carmichael Hill & Associates Inc. purchased a new position in shares of Genuine Parts in the fourth quarter valued at approximately $53,000. Finally, CFM Wealth Partners LLC purchased a new position in shares of Genuine Parts in the fourth quarter valued at approximately $53,000. 77.29% of the stock is owned by institutional investors.
Genuine Parts stock traded down $0.64 during trading on Friday, reaching $96.32. The stock had a trading volume of 42,615 shares, compared to its average volume of 664,404. Genuine Parts has a 52-week low of $87.26 and a 52-week high of $115.20. The business has a 50 day moving average price of $99.89 and a 200 day moving average price of $99.04. The company has a quick ratio of 0.68, a current ratio of 1.26 and a debt-to-equity ratio of 0.98. The stock has a market cap of $13.82 billion, a PE ratio of 17.62, a P/E/G ratio of 3.00 and a beta of 0.89.
Several research firms have recently commented on GPC. Royal Bank of Canada set a $99.00 price objective on shares of Genuine Parts and gave the company a “hold” rating in a research note on Friday, October 18th. Goldman Sachs Group downgraded shares of Genuine Parts from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $101.00 to $93.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $103.75.
Genuine Parts Company 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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