American International Group Inc. grew its stake in Genuine Parts (NYSE:GPC) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,335 shares of the specialty retailer’s stock after purchasing an additional 1,801 shares during the quarter. American International Group Inc. owned approximately 0.12% of Genuine Parts worth $16,369,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its stake in shares of Genuine Parts by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 978,807 shares of the specialty retailer’s stock valued at $89,845,000 after acquiring an additional 30,313 shares in the last quarter. Ascension Asset Management LLC grew its stake in Genuine Parts by 4.4% during the second quarter. Ascension Asset Management LLC now owns 12,525 shares of the specialty retailer’s stock worth $1,150,000 after buying an additional 525 shares in the last quarter. Doyle Wealth Management acquired a new stake in Genuine Parts during the second quarter worth about $206,000. Usca Ria LLC grew its stake in Genuine Parts by 16.9% during the second quarter. Usca Ria LLC now owns 21,149 shares of the specialty retailer’s stock worth $1,941,000 after buying an additional 3,065 shares in the last quarter. Finally, Gideon Capital Advisors Inc. acquired a new stake in Genuine Parts during the second quarter worth about $218,000. 74.08% of the stock is currently owned by institutional investors.
In other news, insider James R. Neill sold 512 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $97.94, for a total value of $50,145.28. Following the sale, the insider now directly owns 5,661 shares in the company, valued at approximately $554,438.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.
Shares of Genuine Parts stock opened at $98.89 on Monday. The stock has a market cap of $14.39 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.61 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.71 and a current ratio of 1.33. Genuine Parts has a 12-month low of $81.21 and a 12-month high of $107.75.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, July 19th. The specialty retailer reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. Genuine Parts had a net margin of 3.78% and a return on equity of 21.62%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. analysts predict that Genuine Parts will post 5.66 EPS for the current fiscal year.
A number of equities research analysts have issued reports on GPC shares. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Wedbush increased their price objective on shares of Genuine Parts from $93.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, July 20th. Finally, Royal Bank of Canada increased their price objective on shares of Genuine Parts to $99.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $101.50.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement and industrial parts, electrical and electronic materials, and business products in the United States, Canada, Mexico, Australasia, France, the United Kingdom, Germany, and Poland. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment through 57 NAPA automotive parts distribution centers and 1,100 NAPA AUTO PARTS stores.
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