Oppenheimer & Co. Inc. raised its position in shares of Genuine Parts Company (NYSE:GPC) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,477 shares of the specialty retailer’s stock after buying an additional 495 shares during the period. Oppenheimer & Co. Inc.’s holdings in Genuine Parts were worth $1,153,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in GPC. Vanguard Group Inc. increased its position in shares of Genuine Parts by 4.7% in the first quarter. Vanguard Group Inc. now owns 15,429,332 shares of the specialty retailer’s stock worth $1,425,824,000 after buying an additional 690,398 shares during the period. BlackRock Inc. increased its position in Genuine Parts by 2,130.1% in the first quarter. BlackRock Inc. now owns 14,442,228 shares of the specialty retailer’s stock valued at $1,334,608,000 after buying an additional 13,794,624 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Genuine Parts by 3.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,121,415 shares of the specialty retailer’s stock valued at $196,253,000 after buying an additional 80,600 shares during the last quarter. Thomaspartners Inc. increased its position in Genuine Parts by 10.7% in the first quarter. Thomaspartners Inc. now owns 1,813,046 shares of the specialty retailer’s stock valued at $167,544,000 after buying an additional 174,623 shares during the last quarter. Finally, Norges Bank purchased a new position in Genuine Parts during the fourth quarter valued at $159,718,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.
Shares of Genuine Parts Company (NYSE GPC) traded down 1.01% during mid-day trading on Friday, reaching $83.93. The company had a trading volume of 971,327 shares. The stock has a market capitalization of $12.34 billion, a P/E ratio of 18.17 and a beta of 1.07. Genuine Parts Company has a one year low of $80.86 and a one year high of $105.18. The firm has a 50 day moving average of $88.31 and a 200-day moving average of $92.74.
Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm posted $1.28 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that Genuine Parts Company will post $4.73 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Genuine Parts Company (NYSE:GPC) Shares Bought by Oppenheimer & Co. Inc.” was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright law. The correct version of this report can be read at https://www.chaffeybreeze.com/2017/07/28/oppenheimer-co-inc-has-1-15-million-stake-in-genuine-parts-company-nysegpc-updated-updated-updated.html.
GPC has been the subject of several research reports. BidaskClub downgraded Genuine Parts from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded Genuine Parts from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) downgraded Genuine Parts from a “neutral” rating to a “sell” rating and cut their price target for the stock from $104.00 to $89.00 in a research note on Thursday, July 6th. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $96.00 price target on shares of Genuine Parts in a research note on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $96.86.
About Genuine Parts
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.
Receive News & Ratings for Genuine Parts Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts Company and related companies with MarketBeat.com's FREE daily email newsletter.