Cambridge Investment Research Advisors Inc. raised its stake in shares of Genuine Parts Company (NYSE:GPC) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,278 shares of the specialty retailer’s stock after purchasing an additional 843 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Genuine Parts were worth $2,131,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GPC. Bank of Montreal Can increased its position in Genuine Parts by 12.7% during the second quarter. Bank of Montreal Can now owns 78,346 shares of the specialty retailer’s stock worth $7,268,000 after purchasing an additional 8,805 shares during the last quarter. Creative Planning increased its position in Genuine Parts by 12.6% during the second quarter. Creative Planning now owns 10,466 shares of the specialty retailer’s stock worth $971,000 after purchasing an additional 1,175 shares during the last quarter. State of Alaska Department of Revenue increased its position in Genuine Parts by 9.3% during the second quarter. State of Alaska Department of Revenue now owns 2,460 shares of the specialty retailer’s stock worth $228,000 after purchasing an additional 209 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Genuine Parts by 5.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 36,560 shares of the specialty retailer’s stock worth $3,391,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Aperio Group LLC increased its position in Genuine Parts by 8.9% during the second quarter. Aperio Group LLC now owns 66,129 shares of the specialty retailer’s stock worth $6,134,000 after purchasing an additional 5,417 shares during the last quarter. 73.96% of the stock is owned by hedge funds and other institutional investors.

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Shares of Genuine Parts Company (GPC) opened at $86.13 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.62 and a current ratio of 1.32. Genuine Parts Company has a 52 week low of $79.86 and a 52 week high of $100.90. The stock has a market cap of $12,627.86, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 3.29 and a beta of 1.11.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.12). Genuine Parts had a return on equity of 20.49% and a net margin of 4.16%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Genuine Parts’s quarterly revenue was down 72.2% compared to the same quarter last year. sell-side analysts predict that Genuine Parts Company will post 4.58 EPS for the current year.

Genuine Parts declared that its Board of Directors has authorized a stock repurchase plan on Monday, August 21st that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Several brokerages recently commented on GPC. Royal Bank Of Canada upped their price target on shares of Genuine Parts from $85.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $95.00 price target on shares of Genuine Parts in a research report on Thursday, October 12th. BidaskClub downgraded shares of Genuine Parts from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Gabelli reiterated a “buy” rating on shares of Genuine Parts in a research note on Friday, October 20th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts has an average rating of “Hold” and a consensus price target of $96.00.

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.

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

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