Genuine Parts Company (GPC) Position Cut by Bbva Compass Bancshares Inc.
Bbva Compass Bancshares Inc. lowered its holdings in shares of Genuine Parts Company (NYSE:GPC) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,560 shares of the specialty retailer’s stock after selling 986 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Genuine Parts were worth $1,011,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of GPC. FMR LLC boosted its holdings in Genuine Parts by 86.0% during the 1st quarter. FMR LLC now owns 160,973 shares of the specialty retailer’s stock valued at $14,875,000 after acquiring an additional 74,448 shares during the period. Thrivent Financial For Lutherans lifted its holdings in shares of Genuine Parts by 12.7% in the 1st quarter. Thrivent Financial For Lutherans now owns 5,960 shares of the specialty retailer’s stock worth $552,000 after buying an additional 670 shares during the period. KCG Holdings Inc. purchased a new stake in shares of Genuine Parts in the 1st quarter worth $635,000. AQR Capital Management LLC lifted its holdings in shares of Genuine Parts by 1.4% in the 1st quarter. AQR Capital Management LLC now owns 85,260 shares of the specialty retailer’s stock worth $7,879,000 after buying an additional 1,146 shares during the period. Finally, Archford Capital Strategies LLC lifted its holdings in shares of Genuine Parts by 0.6% in the 1st quarter. Archford Capital Strategies LLC now owns 11,687 shares of the specialty retailer’s stock worth $1,057,000 after buying an additional 64 shares during the period. Institutional investors own 73.91% of the company’s stock.
Several equities research analysts have weighed in on GPC shares. Gabelli upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Friday, July 21st. BidaskClub upgraded Genuine Parts from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Royal Bank Of Canada lowered their target price on Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, October 20th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 target price on shares of Genuine Parts in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $96.00.
Genuine Parts Company (NYSE GPC) traded down $0.73 on Friday, hitting $87.80. The stock had a trading volume of 567,549 shares, compared to its average volume of 991,485. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 4.05 and a beta of 1.11. Genuine Parts Company has a 52-week low of $79.86 and a 52-week high of $100.90. The company has a current ratio of 1.32, a quick ratio of 0.62 and a debt-to-equity ratio of 0.16.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.12). The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $4.10 billion. Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The company’s revenue was down 72.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. research analysts forecast that Genuine Parts Company will post 4.58 earnings per share for the current fiscal year.
Genuine Parts declared that its board has approved a stock buyback program on Monday, August 21st that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
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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