Wendell David Associates Inc. held its stake in shares of Genuine Parts Company (NYSE:GPC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,460 shares of the specialty retailer’s stock at the end of the second quarter. Wendell David Associates Inc.’s holdings in Genuine Parts were worth $692,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Genuine Parts by 4.7% in the first quarter. Vanguard Group Inc. now owns 15,429,332 shares of the specialty retailer’s stock valued at $1,425,824,000 after buying an additional 690,398 shares during the period. BlackRock Inc. increased its stake in shares of Genuine Parts by 2,130.1% in the first quarter. BlackRock Inc. now owns 14,442,228 shares of the specialty retailer’s stock valued at $1,334,608,000 after buying an additional 13,794,624 shares during the period. State Street Corp increased its stake in shares of Genuine Parts by 1.6% in the first quarter. State Street Corp now owns 8,672,362 shares of the specialty retailer’s stock valued at $801,408,000 after buying an additional 133,002 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Genuine Parts by 3.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,121,415 shares of the specialty retailer’s stock valued at $196,253,000 after buying an additional 80,600 shares during the period. Finally, Thomaspartners Inc. increased its stake in shares of Genuine Parts by 10.7% in the first quarter. Thomaspartners Inc. now owns 1,813,046 shares of the specialty retailer’s stock valued at $167,544,000 after buying an additional 174,623 shares during the period. 73.21% of the stock is owned by institutional investors.
Shares of Genuine Parts Company (NYSE GPC) opened at 83.88 on Friday. The stock’s 50 day moving average is $87.69 and its 200-day moving average is $92.39. The company has a market cap of $12.32 billion, a P/E ratio of 18.16 and a beta of 1.04. Genuine Parts Company has a 12 month low of $80.86 and a 12 month high of $105.18.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.02. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 EPS. On average, equities analysts forecast that Genuine Parts Company will post $4.73 EPS for the current year.
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GPC has been the subject of several analyst reports. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research report on Friday, July 21st. BidaskClub downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Royal Bank Of Canada lifted their target price on shares of Genuine Parts from $94.00 to $96.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $104.00 target price (up previously from $98.00) on shares of Genuine Parts in a research report on Saturday, April 22nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $96.86.
Genuine Parts Company 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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