Swiss National Bank boosted its position in shares of Genuine Parts Company (NYSE:GPC) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 543,530 shares of the specialty retailer’s stock after purchasing an additional 1,300 shares during the quarter. Swiss National Bank owned about 370,731.87% of Genuine Parts worth $51,989,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC grew its position in Genuine Parts by 15,400.0% during the 2nd quarter. Sun Life Financial INC now owns 1,085 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 1,078 shares during the last quarter. Global X Management Co. LLC grew its position in 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 valued at $174,000 after purchasing an additional 236 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in 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 valued at $177,000 after purchasing an additional 1,147 shares during the last quarter. Savant Capital LLC purchased a new stake in Genuine Parts during the 3rd quarter valued at about $208,000. Finally, Parsec Financial Management Inc. purchased a new stake in Genuine Parts during the 2nd quarter valued at about $217,000. 73.96% of the stock is currently owned by institutional investors.
Shares of Genuine Parts Company (GPC) opened at $85.29 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.62 and a current ratio of 1.32. The stock has a market cap of $12,528.12, a PE ratio of 18.78, a PEG ratio of 3.26 and a beta of 1.11. Genuine Parts Company has a 1-year low of $79.86 and a 1-year high of $100.90.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share (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 company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the business earned $1.24 EPS. The business’s revenue was down 72.2% compared to the same quarter last year. sell-side analysts forecast that Genuine Parts Company will post 4.58 earnings per share for the current year.
Genuine Parts declared that its Board of Directors has authorized a stock buyback program on Monday, August 21st that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
A number of brokerages have recently issued reports on GPC. Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price target on shares of Genuine Parts in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Gabelli reaffirmed a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Royal Bank Of Canada dropped their price target on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, October 20th. Finally, BidaskClub downgraded shares of Genuine Parts from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Genuine Parts currently has an average rating of “Hold” and an average target price of $96.00.
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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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