Cetera Investment Advisers Boosts Stock Position in Genuine Parts (NYSE:GPC)

Cetera Investment Advisers grew its stake in shares of Genuine Parts (NYSE:GPC) by 1,473.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,679 shares of the specialty retailer’s stock after buying an additional 147,655 shares during the period. Cetera Investment Advisers’ holdings in Genuine Parts were worth $24,429,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GPC. Norges Bank purchased a new position in Genuine Parts in the 4th quarter worth approximately $215,643,000. International Assets Investment Management LLC raised its holdings in shares of Genuine Parts by 15,175.4% during the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after acquiring an additional 708,388 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after acquiring an additional 431,623 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Genuine Parts by 3,029.9% during the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after acquiring an additional 368,470 shares in the last quarter. Finally, Morningstar Investment Services LLC raised its holdings in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after acquiring an additional 357,091 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $142.52 on Friday. The stock’s fifty day moving average is $139.87 and its two-hundred day moving average is $146.55. The company has a market capitalization of $19.86 billion, a PE ratio of 15.89 and a beta of 0.92. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same period last year, the company earned $2.44 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, analysts expect that Genuine Parts will post 9.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GPC shares. The Goldman Sachs Group decreased their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. UBS Group cut their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Wedbush cut their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Finally, Truist Financial cut their target price on Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $161.14.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.37% of the company’s stock.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.