Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Genuine Parts Company (NYSE:GPC) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,582 shares of the specialty retailer’s stock after acquiring an additional 1,319 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Genuine Parts were worth $2,160,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Genuine Parts by 8.8% during the second quarter. BlackRock Inc. now owns 15,716,092 shares of the specialty retailer’s stock valued at $1,457,825,000 after acquiring an additional 1,273,864 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Genuine Parts by 1.4% during the second quarter. Vanguard Group Inc. now owns 15,648,183 shares of the specialty retailer’s stock valued at $1,451,526,000 after acquiring an additional 218,851 shares in the last quarter. State Street Corp raised its holdings in shares of Genuine Parts by 0.7% during the second quarter. State Street Corp now owns 8,733,760 shares of the specialty retailer’s stock valued at $810,144,000 after acquiring an additional 61,398 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Genuine Parts by 13.9% during the second quarter. JPMorgan Chase & Co. now owns 7,150,904 shares of the specialty retailer’s stock valued at $663,318,000 after acquiring an additional 874,466 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Genuine Parts by 3.5% during the second quarter. Wells Fargo & Company MN now owns 2,105,775 shares of the specialty retailer’s stock valued at $195,331,000 after acquiring an additional 70,980 shares in the last quarter. Institutional investors own 73.92% of the company’s stock.
Genuine Parts Company (GPC) opened at $85.45 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.32 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $12,528.17, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 3.26 and a beta of 1.11. Genuine Parts Company has a twelve month low of $79.86 and a twelve month high of $100.90.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The firm 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%. Genuine Parts’s revenue for the quarter was down 72.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 EPS. equities analysts forecast that Genuine Parts Company will post 4.58 EPS for the current year.
Genuine Parts declared that its board has initiated a share repurchase program on Monday, August 21st that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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A number of brokerages recently commented on GPC. Zacks Investment Research downgraded Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Gabelli restated a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Jefferies Group LLC restated a “hold” rating and set a $95.00 target price on shares of Genuine Parts in a report on Sunday, September 10th. BidaskClub downgraded Genuine Parts from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada upped their target price on Genuine Parts from $85.00 to $98.00 and gave the company a “sector perform” rating in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $96.00.
Genuine Parts 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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