Palisade Asset Management LLC increased its stake in Genuine Parts Company (NYSE:GPC) by 82.7% during the second quarter, Holdings Channel reports. The fund owned 30,810 shares of the specialty retailer’s stock after buying an additional 13,950 shares during the period. Palisade Asset Management LLC’s holdings in Genuine Parts were worth $2,858,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. TLP Group LLC bought a new stake in shares of Genuine Parts during the first quarter valued at approximately $379,000. Integrated Wealth Management raised its stake in shares of Genuine Parts by 2.0% in the first quarter. Integrated Wealth Management now owns 2,618 shares of the specialty retailer’s stock valued at $242,000 after buying an additional 52 shares during the last quarter. Hartford Financial Management Inc. raised its stake in shares of Genuine Parts by 0.9% in the first quarter. Hartford Financial Management Inc. now owns 17,166 shares of the specialty retailer’s stock valued at $1,586,000 after buying an additional 150 shares during the last quarter. Hutner Capital Management Inc. raised its stake in shares of Genuine Parts by 3.3% in the first quarter. Hutner Capital Management Inc. now owns 23,344 shares of the specialty retailer’s stock valued at $2,157,000 after buying an additional 739 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Genuine Parts by 4.7% in the first quarter. Vanguard Group Inc. now owns 15,429,332 shares of the specialty retailer’s stock valued at $1,425,824,000 after buying an additional 690,398 shares during the last quarter. 73.28% of the stock is owned by institutional investors.
Shares of Genuine Parts Company (NYSE:GPC) opened at 83.48 on Thursday. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 18.07 and a beta of 1.04. Genuine Parts Company has a 12-month low of $80.86 and a 12-month high of $105.18. The stock’s 50 day moving average is $85.98 and its 200-day moving average is $91.83.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing the consensus estimate of $1.31 by $0.02. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 EPS. Equities analysts anticipate that Genuine Parts Company will post $4.73 EPS for the current fiscal year.
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Several equities research analysts recently commented on GPC shares. BidaskClub raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $104.00 price target (up previously from $98.00) on shares of Genuine Parts in a report on Saturday, April 22nd. Royal Bank Of Canada boosted their price target on shares of Genuine Parts from $94.00 to $96.00 and gave the stock a “sector perform” rating in a report on Thursday, April 20th. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price target on shares of Genuine Parts in a report on Tuesday, April 18th. Finally, Zacks Investment Research lowered shares of Genuine Parts from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $96.86.
About Genuine Parts
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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