Commerce Bank Sells 1,467 Shares of Genuine Parts Company (GPC)

Commerce Bank reduced its holdings in shares of Genuine Parts Company (NYSE:GPC) by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,190 shares of the specialty retailer’s stock after selling 1,467 shares during the period. Commerce Bank’s holdings in Genuine Parts were worth $1,166,000 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 the business. BKS Advisors LLC grew its position in Genuine Parts by 1.3% during the second quarter. BKS Advisors LLC now owns 2,580 shares of the specialty retailer’s stock valued at $239,000 after acquiring an additional 33 shares during the last quarter. CAPROCK Group Inc. grew its position in Genuine Parts by 1.4% during the second quarter. CAPROCK Group Inc. now owns 2,618 shares of the specialty retailer’s stock valued at $245,000 after acquiring an additional 35 shares during the last quarter. Godsey & Gibb Associates grew its position in Genuine Parts by 1.0% during the second quarter. Godsey & Gibb Associates now owns 4,161 shares of the specialty retailer’s stock valued at $386,000 after acquiring an additional 40 shares during the last quarter. Warren Averett Asset Management LLC grew its position in Genuine Parts by 0.5% during the second quarter. Warren Averett Asset Management LLC now owns 7,976 shares of the specialty retailer’s stock valued at $740,000 after acquiring an additional 41 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its position in Genuine Parts by 1.5% during the second quarter. MUFG Americas Holdings Corp now owns 2,985 shares of the specialty retailer’s stock valued at $277,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 74.69% of the company’s stock.

A number of brokerages have commented on GPC. Jefferies Group LLC reiterated a “hold” rating and set a $95.00 price target on shares of Genuine Parts in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada increased their price target on shares of Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 26th. Gabelli reiterated a “buy” rating on shares of Genuine Parts in a research report on Friday, October 20th. Finally, BidaskClub upgraded shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Genuine Parts has an average rating of “Hold” and an average target price of $96.00.

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Shares of Genuine Parts Company (NYSE:GPC) traded up $0.14 during trading on Monday, hitting $86.13. 572,700 shares of the stock traded hands, compared to its average volume of 852,260. 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. The company has a market capitalization of $12,627.82, a PE ratio of 18.93, a price-to-earnings-growth ratio of 3.29 and a beta of 1.11.

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

Genuine Parts declared that its Board of Directors has initiated a stock repurchase program on Monday, August 21st that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

About Genuine Parts

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.

Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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