CIBC Asset Management Inc boosted its position in shares of Genuine Parts Company (NYSE:GPC) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,437 shares of the specialty retailer’s stock after buying an additional 86 shares during the period. CIBC Asset Management Inc’s holdings in Genuine Parts were worth $1,339,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Rothschild Asset Management Inc. raised its position in shares of Genuine Parts by 11.2% in the second quarter. Rothschild Asset Management Inc. now owns 5,690 shares of the specialty retailer’s stock worth $528,000 after buying an additional 574 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its position in shares of Genuine Parts by 5.1% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,756 shares of the specialty retailer’s stock worth $256,000 after buying an additional 133 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Genuine Parts by 5.7% in the second quarter. Kornitzer Capital Management Inc. KS now owns 9,200 shares of the specialty retailer’s stock worth $853,000 after buying an additional 495 shares during the last quarter. Warren Averett Asset Management LLC raised its position in shares of Genuine Parts by 0.5% in the second quarter. Warren Averett Asset Management LLC now owns 7,976 shares of the specialty retailer’s stock worth $740,000 after buying an additional 41 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. raised its position in shares of Genuine Parts by 1.8% in the second quarter. Bbva Compass Bancshares Inc. now owns 11,546 shares of the specialty retailer’s stock worth $1,071,000 after buying an additional 207 shares during the last quarter. 73.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Genuine Parts Company (NYSE GPC) opened at 82.29 on Friday. The stock’s 50 day moving average price is $85.77 and its 200-day moving average price is $91.76. The firm has a market cap of $12.08 billion, a P/E ratio of 17.82 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.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, July 20th. The specialty retailer reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.02. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the firm posted $1.28 EPS. Genuine Parts’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Genuine Parts Company will post $4.73 earnings per share for the current fiscal year.

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A number of equities analysts have issued reports on the company. BidaskClub raised Genuine Parts from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Gabelli raised Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Friday, July 21st. Goldman Sachs Group, Inc. (The) lowered Genuine Parts from a “neutral” rating to a “sell” rating and decreased their price target for the company from $104.00 to $89.00 in a research note on Thursday, July 6th. Finally, Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research note on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $96.86.

Genuine Parts Company Profile

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

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