CIBC Private Wealth Group LLC Decreases Holdings in Genuine Parts (GPC)

CIBC Private Wealth Group LLC decreased its position in shares of Genuine Parts (NYSE:GPC) by 11.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,090 shares of the specialty retailer’s stock after selling 1,750 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Genuine Parts were worth $1,293,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in shares of Genuine Parts by 18.0% during the first quarter. LPL Financial LLC now owns 43,043 shares of the specialty retailer’s stock valued at $3,867,000 after acquiring an additional 6,554 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Genuine Parts by 8.6% during the first quarter. Hsbc Holdings PLC now owns 138,848 shares of the specialty retailer’s stock valued at $12,475,000 after acquiring an additional 11,017 shares during the period. Koch Industries Inc. acquired a new position in shares of Genuine Parts during the first quarter valued at $1,230,000. Trexquant Investment LP acquired a new position in shares of Genuine Parts during the first quarter valued at $3,887,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Genuine Parts by 87.8% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,613 shares of the specialty retailer’s stock valued at $148,000 after acquiring an additional 754 shares during the period. 74.08% of the stock is owned by institutional investors.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Royal Bank of Canada boosted their price target on shares of Genuine Parts to $99.00 and gave the company a “sector perform” rating in a report on Thursday, July 12th. Finally, Wedbush boosted their price target on shares of Genuine Parts from $93.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $101.50.

In related news, insider James R. Neill sold 512 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $97.94, for a total value of $50,145.28. Following the completion of the sale, the insider now owns 5,661 shares of the company’s stock, valued at $554,438.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.

GPC stock opened at $98.46 on Friday. The stock has a market capitalization of $14.39 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.61 and a beta of 1.20. Genuine Parts has a fifty-two week low of $81.21 and a fifty-two week high of $107.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.33 and a quick ratio of 0.71.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, July 19th. The specialty retailer reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.01. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.69 billion. Genuine Parts had a net margin of 3.78% and a return on equity of 21.62%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. analysts anticipate that Genuine Parts will post 5.66 EPS for the current fiscal year.

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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