M&G Plc Acquires New Holdings in Genuine Parts (NYSE:GPC)

M&G Plc acquired a new position in Genuine Parts (NYSE:GPC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,071 shares of the specialty retailer's stock, valued at approximately $976,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GPC. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the first quarter valued at approximately $26,000. Assetmark Inc. boosted its stake in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer's stock valued at $25,000 after buying an additional 96 shares in the last quarter. Union Savings Bank grew its holdings in Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer's stock worth $31,000 after acquiring an additional 100 shares during the period. Thompson Investment Management Inc. bought a new stake in Genuine Parts in the first quarter worth about $35,000. Finally, Stephens Consulting LLC boosted its position in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on GPC. Wedbush dropped their target price 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. Truist Financial decreased their price target on Genuine Parts from $183.00 to $164.00 and set a "buy" rating for the company in a research report on Tuesday, July 23rd. Jefferies Financial Group boosted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a "hold" rating in a report on Friday, April 19th. Evercore ISI reduced their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an "in-line" rating for the company in a research note on Wednesday, July 24th. Finally, UBS Group dropped their target price on shares of Genuine Parts from $165.00 to $150.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has an average rating of "Hold" and an average price target of $161.14.

Genuine Parts Stock Up 0.9 %

GPC stock traded up $1.22 during mid-day trading on Tuesday, hitting $136.85. The stock had a trading volume of 463,521 shares, compared to its average volume of 1,021,961. The stock has a market capitalization of $19.06 billion, a price-to-earnings ratio of 15.13 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The company has a fifty day moving average of $139.31 and a 200 day moving average of $146.43.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.44 EPS. On average, equities analysts expect that Genuine Parts will post 9.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $1,967,677.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

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