State of Tennessee Treasury Department trimmed its position in Genuine Parts Company (NYSE:GPC) by 16.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,455 shares of the specialty retailer’s stock after selling 9,859 shares during the period. State of Tennessee Treasury Department’s holdings in Genuine Parts were worth $4,826,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of GPC. Sun Life Financial INC boosted its holdings in Genuine Parts by 15,400.0% in the 2nd quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock worth $101,000 after buying an additional 1,078 shares during the last quarter. Global X Management Co. LLC boosted its holdings in shares of Genuine Parts by 14.4% during the 2nd quarter. Global X Management Co. LLC now owns 1,880 shares of the specialty retailer’s stock worth $174,000 after purchasing an additional 236 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Genuine Parts by 151.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,906 shares of the specialty retailer’s stock worth $177,000 after purchasing an additional 1,147 shares during the last quarter. Savant Capital LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth approximately $208,000. Finally, Parsec Financial Management Inc. acquired a new position in shares of Genuine Parts during the 2nd quarter worth approximately $217,000. Institutional investors own 73.96% of the company’s stock.
GPC has been the topic of several recent research reports. Zacks Investment Research cut Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a report on Sunday, September 10th. Royal Bank Of Canada lowered their target price on Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, October 20th. Gabelli upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a report on Friday, July 21st. Finally, BidaskClub upgraded Genuine Parts from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.00.
Genuine Parts Company (NYSE GPC) opened at $86.01 on Wednesday. Genuine Parts Company has a twelve month low of $79.86 and a twelve month high of $100.90. The company has a market capitalization of $12,504.67, a P/E ratio of 18.75, a P/E/G ratio of 3.26 and a beta of 1.11. 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 (NYSE:GPC) last released its quarterly earnings data 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 net margin of 4.16% and a return on equity of 20.49%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s revenue was down 72.2% on a year-over-year basis. equities analysts anticipate that Genuine Parts Company will post 4.58 EPS for the current fiscal year.
Genuine Parts declared that its board has approved a share repurchase plan on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows 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 believes its stock is undervalued.
Genuine Parts Company 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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