Schmidt P J Investment Management Inc. Reduces Holdings in Genuine Parts (NYSE:GPC)

Schmidt P J Investment Management Inc. decreased its position in shares of Genuine Parts (NYSE:GPC) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,363 shares of the specialty retailer’s stock after selling 222 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Genuine Parts were worth $1,073,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. NEXT Financial Group Inc purchased a new position in shares of Genuine Parts during the second quarter worth about $26,000. Cutler Group LP boosted its stake in shares of Genuine Parts by 967.7% during the first quarter. Cutler Group LP now owns 269 shares of the specialty retailer’s stock worth $30,000 after buying an additional 300 shares during the period. Gables Capital Management Inc. boosted its stake in shares of Genuine Parts by 125.0% during the first quarter. Gables Capital Management Inc. now owns 360 shares of the specialty retailer’s stock worth $40,000 after buying an additional 200 shares during the period. Destination Wealth Management acquired a new stake in shares of Genuine Parts during the first quarter worth about $41,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Genuine Parts during the first quarter worth about $44,000. 76.69% of the stock is currently owned by institutional investors.

NYSE:GPC traded down $2.36 during mid-day trading on Monday, reaching $89.84. The stock had a trading volume of 38,830 shares, compared to its average volume of 882,130. The company has a quick ratio of 0.68, a current ratio of 1.26 and a debt-to-equity ratio of 0.98. The stock has a market cap of $13.47 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 3.15 and a beta of 0.92. Genuine Parts has a twelve month low of $91.04 and a twelve month high of $115.20. The firm’s 50 day moving average price is $101.72.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.08). The firm had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5 billion. Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. Genuine Parts’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.59 EPS. On average, equities research analysts forecast that Genuine Parts will post 5.7 earnings per share for the current year.

Several brokerages have recently weighed in on GPC. Royal Bank of Canada set a $101.00 target price on shares of Genuine Parts and gave the stock a “hold” rating in a research note on Friday, July 19th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 target price for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Goldman Sachs Group began coverage on shares of Genuine Parts in a research note on Thursday, July 11th. They set a “neutral” rating and a $107.00 target price for the company. Finally, Stephens began coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They set an “overweight” rating and a $114.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $105.75.

In other news, insider Scott Sonnemaker acquired 5,000 shares of Genuine Parts stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $99.01 per share, for a total transaction of $495,050.00. Following the completion of the transaction, the insider now directly owns 5,000 shares in the company, valued at $495,050. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by company insiders.

Genuine Parts Company 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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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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