CIBC Asset Management Inc Has $3.32 Million Stake in Genuine Parts (NYSE:GPC)

CIBC Asset Management Inc grew its stake in shares of Genuine Parts (NYSE:GPC) by 7.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 23,768 shares of the specialty retailer’s stock after buying an additional 1,572 shares during the period. CIBC Asset Management Inc’s holdings in Genuine Parts were worth $3,320,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wulff Hansen & CO. raised its holdings in Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC lifted its position in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after purchasing an additional 580,262 shares during the period. Boston Trust Walden Corp acquired a new stake in Genuine Parts during the third quarter worth $39,474,000. Dimensional Fund Advisors LP increased its holdings in Genuine Parts by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after buying an additional 239,858 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after buying an additional 223,712 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GPC shares. Truist Financial lowered their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Evercore ISI lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Seven 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, the stock has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

Shares of GPC stock opened at $124.18 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of 15.98 and a beta of 0.92. The firm’s 50 day moving average is $130.54 and its 200-day moving average is $138.08. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.49 earnings per share. Sell-side analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Company 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.