Fiduciary Financial Group LLC Invests $324,000 in Genuine Parts (NYSE:GPC)

Fiduciary Financial Group LLC acquired a new position in Genuine Parts (NYSE:GPC) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,289 shares of the specialty retailer’s stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also modified their holdings of GPC. Manchester Capital Management LLC increased its position in Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares during the period. North Star Investment Management Corp. increased its position in Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 70 shares during the period. CHICAGO TRUST Co NA increased its position in Genuine Parts by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after acquiring an additional 71 shares during the period. Checchi Capital Advisers LLC increased its position in Genuine Parts by 2.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after acquiring an additional 76 shares during the period. Finally, HBK Sorce Advisory LLC increased its holdings in Genuine Parts by 1.8% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after buying an additional 80 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GPC. Jefferies Financial Group boosted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Evercore ISI lowered their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. UBS Group lowered their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Truist Financial lowered their price target on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Up 0.3 %

GPC opened at $138.91 on Friday. The firm’s 50-day simple moving average is $138.92 and its 200-day simple moving average is $146.27. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The firm has a market cap of $19.35 billion, a price-to-earnings ratio of 15.49 and a beta of 0.92.

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

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction 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 filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Profile

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.