Shell Asset Management Co. Sells 4,920 Shares of Genuine Parts Company $GPC

Shell Asset Management Co. reduced its holdings in Genuine Parts Company (NYSE:GPC) by 35.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,844 shares of the specialty retailer’s stock after selling 4,920 shares during the period. Shell Asset Management Co.’s holdings in Genuine Parts were worth $1,226,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GPC. Peoples Financial Services CORP. bought a new stake in Genuine Parts during the third quarter worth about $29,000. Golden State Wealth Management LLC increased its position in shares of Genuine Parts by 8,833.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 265 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Genuine Parts by 7,825.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 313 shares in the last quarter. Quaker Wealth Management LLC boosted its holdings in shares of Genuine Parts by 11,533.3% in the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 346 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Genuine Parts by 40.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 350 shares of the specialty retailer’s stock valued at $49,000 after buying an additional 100 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.2%

Genuine Parts stock opened at $147.37 on Monday. The company’s 50-day moving average price is $133.37 and its two-hundred day moving average price is $133.53. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock has a market cap of $20.50 billion, a P/E ratio of 25.36 and a beta of 0.74. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $151.57.

Wall Street Analyst Weigh In

Several research firms have issued reports on GPC. Evercore ISI set a $175.00 price target on shares of Genuine Parts in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. JPMorgan Chase & Co. raised their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. UBS Group reissued a “neutral” rating on shares of Genuine Parts in a research report on Wednesday. Finally, Truist Financial raised their price objective on Genuine Parts from $146.00 to $162.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $154.14.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.