Financial Management Professionals Inc. raised its position in shares of Genuine Parts (NYSE:GPC) by 1,120.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 537 shares of the specialty retailer’s stock after buying an additional 493 shares during the quarter. Financial Management Professionals Inc.’s holdings in Genuine Parts were worth $47,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. FDx Advisors Inc. raised its position in shares of Genuine Parts by 182.9% in the 1st quarter. FDx Advisors Inc. now owns 15,114 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 9,772 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Genuine Parts by 374.7% during the 1st quarter. Meeder Asset Management Inc. now owns 394 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 311 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of Genuine Parts during the 1st quarter valued at about $27,000. Cornerstone Advisors Inc. grew its stake in shares of Genuine Parts by 246.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 496 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 353 shares during the period. Finally, Investors Research Corp grew its stake in shares of Genuine Parts by 135.5% during the 2nd quarter. Investors Research Corp now owns 391 shares of the specialty retailer’s stock valued at $34,000 after acquiring an additional 225 shares during the period. 77.37% of the stock is owned by institutional investors and hedge funds.
Shares of GPC opened at $89.10 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.65 and a debt-to-equity ratio of 1.03. Genuine Parts has a 12 month low of $49.68 and a 12 month high of $108.58. The stock’s 50 day moving average is $87.14 and its two-hundred day moving average is $84.29. The firm has a market cap of $12.64 billion, a P/E ratio of 16.41, a PEG ratio of 14.39 and a beta of 1.10.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Wednesday, May 6th. The specialty retailer reported $0.92 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.20). Genuine Parts had a net margin of 3.11% and a return on equity of 21.54%. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts forecast that Genuine Parts will post 4.06 EPS for the current year.
Several analysts have recently issued reports on GPC shares. JPMorgan Chase & Co. decreased their price objective on Genuine Parts from $107.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Stephens downgraded Genuine Parts from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 1st. Bank of America raised their price objective on Genuine Parts from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Sunday, April 19th. Cfra decreased their price target on Genuine Parts from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Finally, S&P Equity Research decreased their price target on Genuine Parts from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $93.75.
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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