Pictet Asset Management Ltd. reduced its position in shares of Genuine Parts Company (NYSE:GPC) by 39.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 165,225 shares of the specialty retailer’s stock after selling 109,091 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.11% of Genuine Parts worth $15,804,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. Pennsylvania Trust Co grew its position in shares of Genuine Parts by 0.7% in the 2nd quarter. Pennsylvania Trust Co now owns 3,183 shares of the specialty retailer’s stock worth $295,000 after buying an additional 23 shares during the period. BKS Advisors LLC grew its position in Genuine Parts by 1.3% during the 2nd quarter. BKS Advisors LLC now owns 2,580 shares of the specialty retailer’s stock valued at $239,000 after purchasing an additional 33 shares during the last quarter. CAPROCK Group Inc. grew its position in Genuine Parts by 1.4% during the 2nd quarter. CAPROCK Group Inc. now owns 2,618 shares of the specialty retailer’s stock valued at $245,000 after purchasing an additional 35 shares during the last quarter. Godsey & Gibb Associates grew its position in Genuine Parts by 1.0% during the 2nd quarter. Godsey & Gibb Associates now owns 4,161 shares of the specialty retailer’s stock valued at $386,000 after purchasing an additional 40 shares during the last quarter. Finally, Warren Averett Asset Management LLC grew its position in Genuine Parts by 0.5% during the 2nd quarter. Warren Averett Asset Management LLC now owns 7,976 shares of the specialty retailer’s stock valued at $740,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 73.96% of the company’s stock.
Genuine Parts Company (NYSE GPC) opened at $86.01 on Wednesday. Genuine Parts Company has a one year low of $79.86 and a one year high of $100.90. The company has a market cap of $12,504.67, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 3.26 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.62 and a current ratio of 1.32.
Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was down 72.2% compared to the same quarter last year. equities analysts anticipate that Genuine Parts Company will post 4.58 EPS for the current fiscal year.
Genuine Parts announced that its board has authorized a stock repurchase plan 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 plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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A number of brokerages have issued reports on GPC. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Friday, July 21st. Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. BidaskClub lowered shares of Genuine Parts from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Sunday, September 10th. Finally, Royal Bank Of Canada raised their target price on shares of Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a report on Tuesday, September 26th. Three equities research 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.
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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