FDx Advisors Inc. trimmed its holdings in Genuine Parts Company (NYSE:GPC) by 4.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,069 shares of the specialty retailer’s stock after selling 931 shares during the quarter. FDx Advisors Inc.’s holdings in Genuine Parts were worth $1,728,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Sun Life Financial INC lifted its holdings in shares of Genuine Parts by 15,400.0% in the 2nd quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock worth $101,000 after acquiring an additional 1,078 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of Genuine Parts by 14.4% in the 2nd quarter. Global X Management Co. LLC now owns 1,880 shares of the specialty retailer’s stock worth $174,000 after acquiring an additional 236 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Genuine Parts by 151.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 1,147 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Genuine Parts in the third quarter worth $208,000. Finally, Parsec Financial Management Inc. purchased a new position in shares of Genuine Parts in the second quarter worth $217,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.
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Shares of Genuine Parts Company (NYSE:GPC) opened at $85.29 on Tuesday. The firm has a market cap of $12,528.12, a PE ratio of 18.78, a PEG ratio of 3.26 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.32 and a quick ratio of 0.62. Genuine Parts Company has a 1 year low of $79.86 and a 1 year high of $100.90.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.12). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The firm’s quarterly revenue was down 72.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. research analysts anticipate that Genuine Parts Company will post 4.58 earnings per share for the current fiscal year.
Genuine Parts declared that its Board of Directors has initiated a share buyback program on Monday, August 21st that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several research analysts recently commented on GPC shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a research note on Thursday, October 12th. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Gabelli reaffirmed a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Royal Bank Of Canada decreased their target price on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, October 20th. Finally, BidaskClub downgraded shares of Genuine Parts from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $96.00.
Genuine Parts Profile
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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