Redmond Asset Management LLC Makes New Investment in Genuine Parts (NYSE:GPC)

Redmond Asset Management LLC acquired a new position in shares of Genuine Parts (NYSE:GPC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,808 shares of the specialty retailer’s stock, valued at approximately $498,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stephens Inc. AR boosted its stake in shares of Genuine Parts by 1.8% during the 2nd quarter. Stephens Inc. AR now owns 43,835 shares of the specialty retailer’s stock valued at $4,540,000 after buying an additional 774 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Genuine Parts by 11.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 16,666 shares of the specialty retailer’s stock valued at $1,769,000 after buying an additional 1,738 shares during the period. Silver Lake Advisory LLC boosted its stake in shares of Genuine Parts by 497.1% during the 2nd quarter. Silver Lake Advisory LLC now owns 20,570 shares of the specialty retailer’s stock valued at $2,131,000 after buying an additional 17,125 shares during the period. Tdam USA Inc. boosted its stake in shares of Genuine Parts by 1.7% during the 2nd quarter. Tdam USA Inc. now owns 6,932 shares of the specialty retailer’s stock valued at $718,000 after buying an additional 114 shares during the period. Finally, CWM LLC boosted its stake in shares of Genuine Parts by 53.2% during the 2nd quarter. CWM LLC now owns 1,305 shares of the specialty retailer’s stock valued at $135,000 after buying an additional 453 shares during the period. Hedge funds and other institutional investors own 76.85% of the company’s stock.

Shares of GPC stock traded up $0.32 on Thursday, hitting $89.24. The company’s stock had a trading volume of 8,161 shares, compared to its average volume of 972,276. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. Genuine Parts has a fifty-two week low of $88.62 and a fifty-two week high of $115.20. The firm’s fifty day moving average price is $98.80. The firm has a market cap of $13.02 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 3.05 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5 billion. During the same period in the previous year, the firm posted $1.59 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Genuine Parts will post 5.7 EPS for the current fiscal year.

A number of equities research analysts have issued reports on the stock. Goldman Sachs Group assumed coverage on shares of Genuine Parts in a research note on Thursday, July 11th. They set a “neutral” rating and a $107.00 target price for the company. Stephens assumed coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price for the company. Jefferies Financial Group set a $102.00 target price on shares of Genuine Parts and gave the company a “hold” rating in a research note on Friday, July 19th. ValuEngine lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price for the company in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $105.75.

About Genuine Parts

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

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