Cribstone Capital Management LLC cut its stake in Genuine Parts Company (NYSE:GPC) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,099 shares of the specialty retailer’s stock after selling 90 shares during the period. Cribstone Capital Management LLC’s holdings in Genuine Parts were worth $196,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Hendershot Investments Inc. raised its stake in shares of Genuine Parts by 51.2% in the second quarter. Hendershot Investments Inc. now owns 16,256 shares of the specialty retailer’s stock valued at $1,508,000 after buying an additional 5,505 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Genuine Parts by 5.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 36,560 shares of the specialty retailer’s stock valued at $3,391,000 after buying an additional 2,000 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Genuine Parts by 518.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 24,387 shares of the specialty retailer’s stock valued at $2,262,000 after buying an additional 20,442 shares during the last quarter. National Pension Service raised its stake in shares of Genuine Parts by 9.5% in the second quarter. National Pension Service now owns 154,850 shares of the specialty retailer’s stock valued at $14,110,000 after buying an additional 13,481 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Genuine Parts by 9.3% in the second quarter. State of Alaska Department of Revenue now owns 2,460 shares of the specialty retailer’s stock valued at $228,000 after buying an additional 209 shares during the last quarter. 73.21% of the stock is owned by institutional investors.
Genuine Parts Company (GPC) opened at 83.88 on Friday. Genuine Parts Company has a 12 month low of $80.86 and a 12 month high of $105.18. The stock has a 50 day moving average price of $87.69 and a 200 day moving average price of $92.39. The stock has a market capitalization of $12.32 billion, a P/E ratio of 18.16 and a beta of 1.04.
Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the business earned $1.28 earnings per share. Genuine Parts’s revenue was up 5.1% on a year-over-year basis. Equities analysts predict that Genuine Parts Company will post $4.73 EPS for the current fiscal year.
GPC has been the topic of several analyst reports. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Jefferies Group LLC reiterated a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a research report on Tuesday, April 18th. Royal Bank Of Canada lifted their target price on Genuine Parts from $94.00 to $96.00 and gave the company a “sector perform” rating in a research report on Thursday, April 20th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $104.00 target price (up from $98.00) on shares of Genuine Parts in a research report on Saturday, April 22nd. Finally, BidaskClub upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts has a consensus rating of “Hold” and a consensus target price of $96.86.
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.
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