GAMMA Investing LLC Buys 584 Shares of Genuine Parts (NYSE:GPC)

GAMMA Investing LLC lifted its stake in Genuine Parts (NYSE:GPC) by 43.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,917 shares of the specialty retailer’s stock after purchasing an additional 584 shares during the period. GAMMA Investing LLC’s holdings in Genuine Parts were worth $265,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. grew its holdings in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the last quarter. WD Rutherford LLC bought a new position in shares of Genuine Parts in the first quarter worth about $26,000. Union Savings Bank grew its holdings in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new position in shares of Genuine Parts in the first quarter worth about $35,000. Finally, Stephens Consulting LLC lifted its stake in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 200 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the firm’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 transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

Genuine Parts Price Performance

Shares of NYSE:GPC traded down $4.17 during midday trading on Monday, reaching $138.35. 1,043,037 shares of the company’s stock traded hands, compared to its average volume of 1,034,851. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a market cap of $19.27 billion, a P/E ratio of 15.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The company has a fifty day simple moving average of $139.87 and a two-hundred day simple moving average of $146.61.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. Equities analysts predict that Genuine Parts will post 9.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Evercore ISI decreased their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Wedbush cut their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $161.14.

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.