Janney Montgomery Scott LLC Buys 4,643 Shares of Genuine Parts (GPC)

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Janney Montgomery Scott LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 3.0% in the third quarter, HoldingsChannel reports. The firm owned 159,314 shares of the specialty retailer’s stock after purchasing an additional 4,643 shares during the period. Janney Montgomery Scott LLC’s holdings in Genuine Parts were worth $15,836,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC grew its holdings in shares of Genuine Parts by 5.9% in the second quarter. Riverhead Capital Management LLC now owns 9,236 shares of the specialty retailer’s stock valued at $848,000 after acquiring an additional 512 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in shares of Genuine Parts by 18.2% in the second quarter. Canandaigua National Bank & Trust Co. now owns 3,375 shares of the specialty retailer’s stock valued at $310,000 after acquiring an additional 520 shares in the last quarter. Ascension Asset Management LLC grew its holdings in shares of Genuine Parts by 4.4% in the second quarter. Ascension Asset Management LLC now owns 12,525 shares of the specialty retailer’s stock valued at $1,150,000 after acquiring an additional 525 shares in the last quarter. Bank of Hawaii grew its holdings in shares of Genuine Parts by 24.4% in the second quarter. Bank of Hawaii now owns 2,861 shares of the specialty retailer’s stock valued at $262,000 after acquiring an additional 561 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Genuine Parts by 1.1% in the second quarter. Farmers & Merchants Investments Inc. now owns 52,611 shares of the specialty retailer’s stock valued at $4,829,000 after acquiring an additional 570 shares in the last quarter. 76.49% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts stock opened at $101.08 on Friday. Genuine Parts has a 12 month low of $84.71 and a 12 month high of $107.75. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $14.46 billion, a P/E ratio of 18.05, a PEG ratio of 2.62 and a beta of 1.11.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, October 18th. The specialty retailer reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Genuine Parts had a return on equity of 22.54% and a net margin of 3.99%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. Genuine Parts’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts predict that Genuine Parts will post 5.65 earnings per share for the current year.

GPC has been the subject of several recent analyst reports. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. ValuEngine raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Bank of America lowered Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Tuesday, October 30th. Wedbush upped their target price on Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Finally, Royal Bank of Canada upped their target price on Genuine Parts to $99.00 and gave the company a “sector perform” rating in a report on Thursday, July 12th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Genuine Parts currently has an average rating of “Hold” and an average price target of $104.60.

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About Genuine Parts

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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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