Krueger & Catalano Capital Partners LLC raised its stake in shares of Genuine Parts (NYSE:GPC) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,438 shares of the specialty retailer’s stock after purchasing an additional 743 shares during the period. Genuine Parts accounts for 1.6% of Krueger & Catalano Capital Partners LLC’s holdings, making the stock its 23rd biggest position. Krueger & Catalano Capital Partners LLC’s holdings in Genuine Parts were worth $2,117,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of GPC. Independent Advisor Alliance grew its holdings in shares of Genuine Parts by 7.3% in the first quarter. Independent Advisor Alliance now owns 23,001 shares of the specialty retailer’s stock valued at $2,577,000 after purchasing an additional 1,562 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Genuine Parts by 6.0% in the first quarter. MML Investors Services LLC now owns 15,083 shares of the specialty retailer’s stock valued at $1,690,000 after purchasing an additional 848 shares in the last quarter. Farmers National Bank acquired a new position in shares of Genuine Parts in the first quarter valued at approximately $324,000. Stephens Inc. AR grew its holdings in shares of Genuine Parts by 9.8% in the first quarter. Stephens Inc. AR now owns 43,061 shares of the specialty retailer’s stock valued at $4,824,000 after purchasing an additional 3,857 shares in the last quarter. Finally, Comerica Securities Inc. acquired a new position in shares of Genuine Parts in the fourth quarter valued at approximately $256,000. 76.71% of the stock is currently owned by institutional investors and hedge funds.
GPC has been the subject of a number of research reports. Stephens initiated coverage on shares of Genuine Parts in a report on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Jefferies Financial Group set a $102.00 price objective on shares of Genuine Parts and gave the company a “hold” rating in a report on Friday, July 19th. ValuEngine cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Royal Bank of Canada set a $101.00 price objective on shares of Genuine Parts and gave the company a “hold” rating in a report on Friday, July 19th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $105.75.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Genuine Parts had a return on equity of 23.16% and a net margin of 4.17%. The firm had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same quarter in the prior year, the firm earned $1.59 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that Genuine Parts will post 5.7 EPS for the current year.
In other news, insider Scott Sonnemaker purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average price of $99.01 per share, for a total transaction of $495,050.00. Following the completion of the purchase, the insider now directly owns 5,000 shares of the company’s stock, valued at $495,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by insiders.
Genuine Parts Profile
Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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