Nippon Life Insurance Co. Sells 402 Shares of Genuine Parts Company (GPC)
Nippon Life Insurance Co. lowered its stake in Genuine Parts Company (NYSE:GPC) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,849 shares of the specialty retailer’s stock after selling 402 shares during the period. Nippon Life Insurance Co.’s holdings in Genuine Parts were worth $1,192,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Global X Management Co. LLC raised its position in shares of Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock worth $152,000 after buying an additional 373 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Genuine Parts during the first quarter worth about $208,000. Van ECK Associates Corp raised its position in shares of Genuine Parts by 7.3% in the first quarter. Van ECK Associates Corp now owns 2,274 shares of the specialty retailer’s stock worth $210,000 after buying an additional 155 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Genuine Parts during the first quarter worth about $213,000. Finally, Parsec Financial Management Inc. acquired a new position in shares of Genuine Parts during the second quarter worth about $217,000. 73.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Genuine Parts Company (NYSE GPC) opened at 81.60 on Monday. The company has a market capitalization of $11.98 billion, a P/E ratio of 17.67 and a beta of 1.04. The stock has a 50 day moving average price of $84.25 and a 200-day moving average price of $91.13. Genuine Parts Company has a one year low of $79.86 and a one year high of $105.18.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. Genuine Parts had a return on equity of 21.05% and a net margin of 4.37%. Genuine Parts’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.28 EPS. Equities research analysts predict that Genuine Parts Company will post $4.73 earnings per share for the current fiscal year.
GPC has been the topic of a number of recent analyst reports. Gabelli raised Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research report on Friday, July 21st. BidaskClub lowered Genuine Parts from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Wedbush reaffirmed a “neutral” rating on shares of Genuine Parts in a research report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $96.00 target price on shares of Genuine Parts in a research report on Thursday, May 25th. Finally, Goldman Sachs Group, Inc. (The) lowered Genuine Parts from a “neutral” rating to a “sell” rating and cut their target price for the company from $104.00 to $89.00 in a research report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $96.86.
Genuine Parts Company 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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