Prudential Financial Inc. cut its holdings in Genuine Parts Company (NYSE:GPC) by 53.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,974 shares of the specialty retailer’s stock after selling 376,670 shares during the quarter. Prudential Financial Inc. owned approximately 0.22% of Genuine Parts worth $31,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Genuine Parts by 8.8% in the second quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock worth $1,457,825,000 after purchasing an additional 1,273,864 shares during the last quarter. Vanguard Group Inc. boosted its position in Genuine Parts by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 15,648,183 shares of the specialty retailer’s stock valued at $1,451,526,000 after acquiring an additional 218,851 shares in the last quarter. State Street Corp boosted its position in Genuine Parts by 0.7% during the 2nd quarter. State Street Corp now owns 8,733,760 shares of the specialty retailer’s stock valued at $810,144,000 after acquiring an additional 61,398 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Genuine Parts by 13.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,150,904 shares of the specialty retailer’s stock valued at $663,318,000 after acquiring an additional 874,466 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Genuine Parts by 3.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,105,775 shares of the specialty retailer’s stock valued at $195,331,000 after acquiring an additional 70,980 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.
Several analysts have weighed in on GPC shares. raised Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research report on Friday, July 21st. cut Genuine Parts from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. cut Genuine Parts from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price objective on shares of Genuine Parts in a research report on Sunday, September 10th. Finally, Royal Bank Of Canada lifted their price objective on Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $96.00.
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Shares of Genuine Parts Company (NYSE:GPC) opened at $86.01 on Wednesday. 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 12-month low of $79.86 and a 12-month high of $100.90. The company has a market capitalization of $12,504.67, a P/E ratio of 18.75, a PEG ratio of 3.26 and a beta of 1.11.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. The business’s revenue for the quarter was down 72.2% compared to the same quarter last year. research analysts predict that Genuine Parts Company will post 4.58 earnings per share for the current year.
Genuine Parts declared that its Board of Directors has authorized a share repurchase program on Monday, August 21st that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Genuine Parts 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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