American Century Companies Inc. grew its stake in shares of Genuine Parts Company (NYSE:GPC) by 3,148.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 330,098 shares of the specialty retailer’s stock after acquiring an additional 319,936 shares during the quarter. American Century Companies Inc. owned about 0.22% of Genuine Parts worth $31,574,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Girard Partners LTD. boosted its holdings in shares of Genuine Parts by 5.2% in the second quarter. Girard Partners LTD. now owns 28,068 shares of the specialty retailer’s stock worth $2,604,000 after buying an additional 1,391 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Genuine Parts by 10.1% in the second quarter. Synovus Financial Corp now owns 263,927 shares of the specialty retailer’s stock worth $24,485,000 after buying an additional 24,129 shares during the last quarter. Motco boosted its holdings in shares of Genuine Parts by 1.9% in the second quarter. Motco now owns 36,411 shares of the specialty retailer’s stock worth $3,378,000 after buying an additional 679 shares during the last quarter. Rowland & Co. Investment Counsel ADV boosted its holdings in shares of Genuine Parts by 6.3% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 68,624 shares of the specialty retailer’s stock worth $6,373,000 after buying an additional 4,066 shares during the last quarter. Finally, Nuance Investments LLC boosted its holdings in shares of Genuine Parts by 221.3% in the second quarter. Nuance Investments LLC now owns 272,286 shares of the specialty retailer’s stock worth $25,257,000 after buying an additional 187,534 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on GPC shares. Zacks Investment Research downgraded shares of Genuine Parts from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price objective on shares of Genuine Parts in a report on Sunday, September 10th. Royal Bank Of Canada dropped their price objective on shares of Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, October 20th. Gabelli raised shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Friday, July 21st. Finally, BidaskClub raised shares of Genuine Parts from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $96.00.
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Shares of Genuine Parts Company (GPC) opened at $85.29 on Tuesday. Genuine Parts Company has a one year low of $79.86 and a one year high of $100.90. The company has a market cap of $12,528.12, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 3.26 and a beta of 1.11. 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 earnings results on Thursday, October 19th. The specialty retailer reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the business posted $1.24 EPS. Genuine Parts’s revenue was down 72.2% on a year-over-year basis. equities analysts forecast that Genuine Parts Company will post 4.58 earnings per share for the current year.
Genuine Parts announced that its board has approved a share repurchase program on Monday, August 21st that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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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