Burney Co. Acquires 100 Shares of Genuine Parts (NYSE:GPC)

Burney Co. increased its holdings in Genuine Parts (NYSE:GPC) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,080 shares of the specialty retailer’s stock after purchasing an additional 100 shares during the period. Burney Co.’s holdings in Genuine Parts were worth $632,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. NBC Securities Inc. increased its position in Genuine Parts by 27.1% in the fourth quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after purchasing an additional 668 shares during the last quarter. ICW Investment Advisors LLC increased its position in Genuine Parts by 2.8% during the fourth quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after acquiring an additional 221 shares during the last quarter. BNP Paribas Financial Markets increased its position in Genuine Parts by 22.0% during the fourth quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after acquiring an additional 26,710 shares during the last quarter. Stifel Financial Corp increased its position in Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares during the last quarter. Finally, Conning Inc. increased its position in Genuine Parts by 5.9% during the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after acquiring an additional 12,634 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GPC shares. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday. The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group cut their price objective 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. Evercore ISI cut 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. Finally, Truist Financial cut 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Stock Down 0.7 %

NYSE:GPC traded down $0.96 during mid-day trading on Friday, reaching $142.52. The company’s stock had a trading volume of 1,062,186 shares, compared to its average volume of 1,304,695. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The stock has a fifty day moving average of $139.87 and a 200-day moving average of $146.50. The firm 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 (NYSE:GPC) last released 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). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period last year, the company earned $2.44 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that Genuine Parts will post 9.36 earnings per share for the current year.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the 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 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 legal filing with the SEC, which is accessible through this link. 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.