Russell Investments Group Ltd. Increases Stake in Genuine Parts Company (NYSE:GPC)
Russell Investments Group Ltd. increased its stake in Genuine Parts Company (NYSE:GPC) by 112.4% during the second quarter, Holdings Channel reports. The institutional investor owned 135,426 shares of the specialty retailer’s stock after buying an additional 71,676 shares during the period. Russell Investments Group Ltd.’s holdings in Genuine Parts were worth $12,565,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Pinnacle Bank bought a new stake in Genuine Parts during the first quarter valued at $115,000. Global X Management Co. LLC raised its stake in Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock valued at $152,000 after buying an additional 373 shares in the last quarter. Washington Trust Bank raised its stake in Genuine Parts by 334.3% in the first quarter. Washington Trust Bank now owns 1,963 shares of the specialty retailer’s stock valued at $181,000 after buying an additional 1,511 shares in the last quarter. Tompkins Financial Corp raised its stake in Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock valued at $186,000 after buying an additional 1,115 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Genuine Parts during the first quarter valued at $208,000. 73.28% of the stock is owned by institutional investors and hedge funds.
Genuine Parts Company (NYSE:GPC) traded up 0.63% during mid-day trading on Friday, hitting $82.81. The stock had a trading volume of 470,391 shares. The company has a 50-day moving average price of $85.57 and a 200 day moving average price of $91.67. The company has a market cap of $12.16 billion, a P/E ratio of 17.93 and a beta of 1.04. Genuine Parts Company has a 1-year low of $80.86 and a 1-year high of $105.18.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the firm earned $1.28 EPS. Genuine Parts’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that Genuine Parts Company will post $4.73 EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on GPC shares. Gabelli raised Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Friday, July 21st. Jefferies Group LLC reissued a “hold” rating and set a $95.00 price objective on shares of Genuine Parts in a research note on Tuesday, April 18th. BidaskClub raised Genuine Parts from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reissued a “hold” rating and set a $96.00 price objective on shares of Genuine Parts in a research note on Thursday, May 25th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $104.00 price objective (up from $98.00) on shares of Genuine Parts in a research note on Saturday, April 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average 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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