Advisors Asset Management Inc. Purchases New Position in Genuine Parts (GPC)

Advisors Asset Management Inc. purchased a new position in shares of Genuine Parts (NYSE:GPC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,782 shares of the specialty retailer’s stock, valued at approximately $347,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in shares of Genuine Parts by 318.5% during the second quarter. Bank of America Corp DE now owns 7,036,209 shares of the specialty retailer’s stock valued at $645,853,000 after acquiring an additional 5,354,849 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Genuine Parts by 23.3% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,533,815 shares of the specialty retailer’s stock valued at $324,369,000 after acquiring an additional 667,620 shares during the period. Charles Schwab Investment Advisory Inc. bought a new position in shares of Genuine Parts during the second quarter valued at $205,387,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Genuine Parts by 3.2% during 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 during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Genuine Parts by 21.8% during the second quarter. California Public Employees Retirement System now owns 494,166 shares of the specialty retailer’s stock valued at $45,359,000 after acquiring an additional 88,392 shares during the period. 76.49% of the stock is owned by institutional investors.

Genuine Parts stock opened at $101.08 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.33 and a quick ratio of 0.71. Genuine Parts has a 12-month low of $84.71 and a 12-month high of $107.75. The stock has a market capitalization of $14.46 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.11.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, October 18th. The specialty retailer reported $1.48 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the previous year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts predict that Genuine Parts will post 5.65 EPS for the current fiscal year.

A number of brokerages have issued reports on GPC. ValuEngine cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Bank of America cut Genuine Parts from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a report on Tuesday, October 30th. Zacks Investment Research cut Genuine Parts from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Wedbush lifted their price objective 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 lifted their price objective 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 assigned a hold rating to the company. Genuine Parts currently has an average rating of “Hold” and an average target price of $104.60.

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

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