M&G Plc Takes $976,000 Position in Genuine Parts (NYSE:GPC)

M&G Plc acquired a new position in shares of Genuine Parts (NYSE:GPC) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 7,071 shares of the specialty retailer’s stock, valued at approximately $976,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in shares of Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. WD Rutherford LLC acquired a new position in Genuine Parts in the 1st quarter worth about $26,000. Union Savings Bank increased its holdings in Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new position in Genuine Parts in the first quarter valued at about $35,000. Finally, Stephens Consulting LLC increased its holdings in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 0.9 %

Shares of GPC stock traded up $1.22 on Tuesday, hitting $136.85. The stock had a trading volume of 463,521 shares, compared to its average volume of 1,021,961. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The business has a 50 day moving average of $139.31 and a 200 day moving average of $146.43. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of 15.13 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter last year, the business posted $2.44 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts expect that Genuine Parts will post 9.36 EPS for the current year.

Analyst Ratings Changes

GPC has been the subject of a number of analyst reports. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Truist Financial decreased their price objective on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Wedbush dropped their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group lowered their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, UBS Group reduced their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.