Xact Kapitalforvaltning AB Has $3.27 Million Position in Genuine Parts (GPC)

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Xact Kapitalforvaltning AB reduced its stake in shares of Genuine Parts (NYSE:GPC) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,915 shares of the specialty retailer’s stock after selling 1,905 shares during the period. Xact Kapitalforvaltning AB’s holdings in Genuine Parts were worth $3,272,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GPC. Mather Group LLC. raised its position in shares of Genuine Parts by 63.7% in the 3rd quarter. Mather Group LLC. now owns 21,234 shares of the specialty retailer’s stock worth $2,111,000 after acquiring an additional 8,261 shares in the last quarter. UMB Bank N A MO raised its position in shares of Genuine Parts by 15.6% in the 3rd quarter. UMB Bank N A MO now owns 9,709 shares of the specialty retailer’s stock worth $965,000 after acquiring an additional 1,313 shares in the last quarter. Edmp Inc. acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at about $216,000. IFM Investors Pty Ltd grew its stake in shares of Genuine Parts by 28.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 8,038 shares of the specialty retailer’s stock valued at $799,000 after buying an additional 1,782 shares during the period. Finally, Strs Ohio grew its stake in shares of Genuine Parts by 4.5% in the 3rd quarter. Strs Ohio now owns 15,092 shares of the specialty retailer’s stock valued at $1,500,000 after buying an additional 652 shares during the period. 76.49% of the stock is owned by institutional investors and hedge funds.

GPC stock opened at $98.33 on Wednesday. The stock has a market cap of $14.46 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 2.66 and a beta of 1.17. 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 announced its earnings results on Thursday, October 18th. The specialty retailer reported $1.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.48. Genuine Parts had a return on equity of 22.54% and a net margin of 3.99%. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. On average, analysts forecast that Genuine Parts will post 5.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were paid a $0.72 dividend. The ex-dividend date was Thursday, September 6th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.93%. Genuine Parts’s payout ratio is presently 62.07%.

A number of research firms have issued reports on GPC. Bank of America downgraded Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price target for the company. in a research note on Tuesday. ValuEngine upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Wedbush lifted their price target on Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, July 20th. Finally, Royal Bank of Canada lifted their price target on Genuine Parts to $99.00 and gave the company a “sector perform” rating in a research note on Thursday, July 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and an average target price of $104.60.

About Genuine Parts

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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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