Hutner Capital Management Inc. increased its stake in shares of Genuine Parts (NYSE:GPC) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,071 shares of the specialty retailer’s stock after purchasing an additional 960 shares during the quarter. Genuine Parts accounts for approximately 2.0% of Hutner Capital Management Inc.’s holdings, making the stock its 18th biggest position. Hutner Capital Management Inc.’s holdings in Genuine Parts were worth $2,790,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in Genuine Parts by 318.5% in the second quarter. Bank of America Corp DE now owns 7,036,209 shares of the specialty retailer’s stock valued at $645,853,000 after acquiring an additional 5,354,849 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in Genuine Parts in the second quarter valued at $205,387,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Genuine Parts by 23.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,533,815 shares of the specialty retailer’s stock valued at $324,369,000 after acquiring an additional 667,620 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in Genuine Parts by 9,752.8% in the second quarter. Cornerstone Wealth Management LLC now owns 391,847 shares of the specialty retailer’s stock valued at $4,306,000 after acquiring an additional 387,870 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Genuine Parts in the second quarter valued at $10,749,000. 76.49% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on GPC. ValuEngine downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America downgraded Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Tuesday, October 30th. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Wedbush raised their target price on Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Finally, Royal Bank of Canada raised their target price on Genuine Parts to $99.00 and gave the company a “sector perform” rating in a report on Thursday, July 12th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $104.60.
NYSE:GPC opened at $97.02 on Monday. The firm has a market cap of $14.24 billion, a PE ratio of 20.91, a PEG ratio of 2.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.33 and a quick ratio of 0.71. Genuine Parts has a 52-week low of $84.71 and a 52-week high of $107.75.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, October 18th. The specialty retailer reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.71 billion. Genuine Parts had a return on equity of 22.54% and a net margin of 3.99%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. On average, analysts expect that Genuine Parts will post 5.65 EPS for the current fiscal year.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. 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 through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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