Robeco Institutional Asset Management B.V. Cuts Holdings in Genuine Parts (GPC)

Share on StockTwits

Robeco Institutional Asset Management B.V. lowered its stake in Genuine Parts (NYSE:GPC) by 14.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,177 shares of the specialty retailer’s stock after selling 2,856 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Genuine Parts were worth $1,707,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Riverhead Capital Management LLC lifted its stake in Genuine Parts by 5.9% in the second quarter. Riverhead Capital Management LLC now owns 9,236 shares of the specialty retailer’s stock valued at $848,000 after buying an additional 512 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in Genuine Parts by 18.2% in the second quarter. Canandaigua National Bank & Trust Co. now owns 3,375 shares of the specialty retailer’s stock valued at $310,000 after buying an additional 520 shares in the last quarter. Ascension Asset Management LLC lifted its stake in Genuine Parts by 4.4% in the second quarter. Ascension Asset Management LLC now owns 12,525 shares of the specialty retailer’s stock valued at $1,150,000 after buying an additional 525 shares in the last quarter. Bank of Hawaii lifted its stake in Genuine Parts by 24.4% in the second quarter. Bank of Hawaii now owns 2,861 shares of the specialty retailer’s stock valued at $262,000 after buying an additional 561 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in Genuine Parts by 1.1% in the second quarter. Farmers & Merchants Investments Inc. now owns 52,611 shares of the specialty retailer’s stock valued at $4,829,000 after buying an additional 570 shares in the last quarter. 76.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GPC stock opened at $98.56 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.71 and a current ratio of 1.33. The firm has a market capitalization of $14.24 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.58 and a beta of 1.11. Genuine Parts has a 12 month low of $84.71 and a 12 month high of $107.75.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, October 18th. The specialty retailer reported $1.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.48. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.71 billion. Genuine Parts had a net margin of 3.99% and a return on equity of 22.54%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Analysts anticipate that Genuine Parts will post 5.65 earnings per share for the current fiscal year.

GPC has been the topic of a number of research reports. Royal Bank of Canada lifted their price target on shares of Genuine Parts to $99.00 and gave the company a “sector perform” rating in a research note on Thursday, July 12th. Wedbush lifted their price target on shares of Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, July 20th. Zacks Investment Research lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Finally, Bank of America lowered shares of Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research report on Tuesday, October 30th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $104.60.

TRADEMARK VIOLATION WARNING: “Robeco Institutional Asset Management B.V. Cuts Holdings in Genuine Parts (GPC)” was originally reported by Week Herald and is owned by of Week Herald. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://weekherald.com/2018/11/07/robeco-institutional-asset-management-b-v-cuts-holdings-in-genuine-parts-gpc.html.

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.

Featured Article: How Investors Use a Balance Sheet

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC).

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

Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply