Genuine Parts Company (GPC) Position Cut by Moody Lynn & Lieberson LLC
Moody Lynn & Lieberson LLC reduced its holdings in shares of Genuine Parts Company (NYSE:GPC) by 97.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,433 shares of the specialty retailer’s stock after selling 89,881 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Genuine Parts were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. BKS Advisors LLC increased its position in Genuine Parts by 1.3% during the 2nd quarter. BKS Advisors LLC now owns 2,580 shares of the specialty retailer’s stock valued at $239,000 after buying an additional 33 shares in the last quarter. CAPROCK Group Inc. increased its position in Genuine Parts by 1.4% during the 2nd quarter. CAPROCK Group Inc. now owns 2,618 shares of the specialty retailer’s stock valued at $245,000 after buying an additional 35 shares in the last quarter. Godsey & Gibb Associates increased its position in Genuine Parts by 1.0% during the 2nd quarter. Godsey & Gibb Associates now owns 4,161 shares of the specialty retailer’s stock valued at $386,000 after buying an additional 40 shares in the last quarter. Warren Averett Asset Management LLC increased its position in Genuine Parts by 0.5% during the 2nd quarter. Warren Averett Asset Management LLC now owns 7,976 shares of the specialty retailer’s stock valued at $740,000 after buying an additional 41 shares in the last quarter. Finally, MUFG Americas Holdings Corp increased its holdings in shares of Genuine Parts by 1.5% in the second quarter. MUFG Americas Holdings Corp now owns 2,985 shares of the specialty retailer’s stock valued at $277,000 after purchasing an additional 45 shares during the period. 73.96% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on GPC. Zacks Investment Research lowered Genuine Parts from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Gabelli reissued a “buy” rating on shares of Genuine Parts in a report on Friday, October 20th. Royal Bank Of Canada cut their price objective on Genuine Parts from $98.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, October 20th. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price objective on shares of Genuine Parts in a report on Thursday, October 12th. Finally, BidaskClub raised 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 given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $96.00.
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Shares of Genuine Parts Company (NYSE GPC) traded up $1.09 during mid-day trading on Tuesday, hitting $86.38. The stock had a trading volume of 199,138 shares, compared to its average volume of 855,689. Genuine Parts Company has a fifty-two week low of $79.86 and a fifty-two week high of $100.90. 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 firm has a market capitalization of $12,528.12, a price-to-earnings ratio of 18.78, a PEG ratio of 3.26 and a beta of 1.11.
Genuine Parts (NYSE:GPC) last issued 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 company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The firm’s quarterly revenue was down 72.2% compared to the same quarter last year. equities analysts expect that Genuine Parts Company will post 4.58 earnings per share for the current year.
Genuine Parts announced that its Board of Directors has approved a share repurchase program on Monday, August 21st that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
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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