Rhumbline Advisers Purchases 6,602 Shares of Genuine Parts Company (GPC)

Rhumbline Advisers raised its position in Genuine Parts Company (NYSE:GPC) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 310,673 shares of the specialty retailer’s stock after buying an additional 6,602 shares during the period. Rhumbline Advisers owned about 0.21% of Genuine Parts worth $29,716,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GPC. BlackRock Inc. boosted its position in Genuine Parts by 8.8% in the 2nd quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock valued at $1,457,825,000 after buying an additional 1,273,864 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Genuine Parts by 13.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,150,904 shares of the specialty retailer’s stock valued at $663,318,000 after buying an additional 874,466 shares during the last quarter. Janus Henderson Group PLC boosted its position in Genuine Parts by 2,560.0% in the 2nd quarter. Janus Henderson Group PLC now owns 532,525 shares of the specialty retailer’s stock valued at $49,397,000 after buying an additional 512,505 shares during the last quarter. Prudential Financial Inc. boosted its position in Genuine Parts by 175.1% in the 2nd quarter. Prudential Financial Inc. now owns 701,644 shares of the specialty retailer’s stock valued at $65,085,000 after buying an additional 446,560 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Genuine Parts by 3,148.4% in the 3rd quarter. American Century Companies Inc. now owns 330,098 shares of the specialty retailer’s stock valued at $31,574,000 after buying an additional 319,936 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.

Genuine Parts Company (GPC) opened at $86.13 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.62 and a current ratio of 1.32. The firm has a market capitalization of $12,610.00, a PE ratio of 18.90, a price-to-earnings-growth ratio of 3.28 and a beta of 1.11. Genuine Parts Company has a twelve month low of $79.86 and a twelve month high of $100.90.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.12). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The business’s revenue was down 72.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. equities analysts predict that Genuine Parts Company will post 4.58 EPS for the current year.

Genuine Parts declared that its board has authorized a stock buyback program on Monday, August 21st that allows the company to buyback 15,000,000 outstanding shares. This buyback authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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Several research firms have recently issued reports on GPC. Jefferies Group LLC restated a “hold” rating and issued a $95.00 price target on shares of Genuine Parts in a research report on Thursday, October 12th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada raised their price target on Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 26th. Gabelli restated a “buy” rating on shares of Genuine Parts in a research report on Friday, October 20th. Finally, BidaskClub upgraded Genuine Parts from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target 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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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