Barclays PLC boosted its holdings in shares of Genuine Parts (NYSE:GPC – Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 272,764 shares of the specialty retailer’s stock after buying an additional 2,195 shares during the quarter. Barclays PLC owned 0.19% of Genuine Parts worth $45,633,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of GPC. Norges Bank purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $239,384,000. Capital World Investors purchased a new stake in shares of Genuine Parts in the 1st quarter valued at approximately $124,130,000. Vanguard Group Inc. grew its position in shares of Genuine Parts by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after buying an additional 481,039 shares during the last quarter. Sugarloaf Wealth Management LLC raised its stake in Genuine Parts by 20,771.1% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 313,067 shares of the specialty retailer’s stock worth $572,000 after acquiring an additional 311,567 shares in the last quarter. Finally, Morgan Stanley raised its stake in Genuine Parts by 16.2% during the 4th quarter. Morgan Stanley now owns 2,133,505 shares of the specialty retailer’s stock worth $370,185,000 after acquiring an additional 297,814 shares in the last quarter. 80.67% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Stock Up 0.2 %
GPC stock opened at $155.69 on Friday. Genuine Parts has a one year low of $145.30 and a one year high of $187.73. The stock has a market capitalization of $21.87 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.88 and a beta of 0.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.58 and a current ratio of 1.15. The company has a fifty day moving average of $160.28 and a 200-day moving average of $165.19.
Genuine Parts (NYSE:GPC – Get Free Report) last released its earnings results on Thursday, July 20th. The specialty retailer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.34 by $0.10. Genuine Parts had a net margin of 5.30% and a return on equity of 32.43%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same quarter last year, the business earned $2.20 EPS. The business’s revenue was up 5.6% on a year-over-year basis. As a group, analysts expect that Genuine Parts will post 9.24 EPS for the current year.
Insider Transactions at Genuine Parts
In related news, insider Randall P. Breaux acquired 500 shares of Genuine Parts stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average price of $149.44 per share, for a total transaction of $74,720.00. Following the completion of the purchase, the insider now directly owns 20,523 shares of the company’s stock, valued at $3,066,957.12. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.39% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently commented on GPC shares. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $163.00 to $164.00 in a research note on Monday, May 1st. They noted that the move was a valuation call. JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $190.00 to $184.00 and set an “overweight” rating on the stock in a research note on Friday, July 21st. Northcoast Research started coverage on shares of Genuine Parts in a research note on Wednesday, June 28th. They set a “buy” rating and a $195.00 price target on the stock. Bank of America raised shares of Genuine Parts from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $189.00 in a research report on Thursday, June 1st. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $170.00 to $165.00 in a research report on Friday, July 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.00.
About Genuine Parts
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.
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