MONECO Advisors LLC Has $220,000 Stock Position in Genuine Parts (NYSE:GPC)

MONECO Advisors LLC grew its holdings in Genuine Parts (NYSE:GPC) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,587 shares of the specialty retailer’s stock after acquiring an additional 105 shares during the quarter. MONECO Advisors LLC’s holdings in Genuine Parts were worth $220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Genuine Parts by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock valued at $353,436,000 after purchasing an additional 185,913 shares during the period. Stifel Financial Corp boosted its stake in shares of Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares during the period. Norges Bank bought a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $215,643,000. Dimensional Fund Advisors LP grew its position in Genuine Parts by 13.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,081,344 shares of the specialty retailer’s stock worth $149,766,000 after buying an additional 129,472 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its stake in Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after acquiring an additional 357,091 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on GPC. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Truist Financial reduced their price objective on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Evercore ISI decreased their target price 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. Wedbush cut their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reduced their price target 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. 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, the company has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Trading Down 0.1 %

GPC opened at $138.68 on Tuesday. The company has a market cap of $19.32 billion, a P/E ratio of 15.46 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. The company’s 50 day moving average is $138.72 and its 200-day moving average is $146.28. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion during 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 for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. Equities research analysts predict that Genuine Parts will post 9.36 earnings per share 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.