Archford Capital Strategies LLC Purchases 97 Shares of Genuine Parts (NYSE:GPC)

Archford Capital Strategies LLC raised its stake in shares of Genuine Parts (NYSE:GPC) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,423 shares of the specialty retailer’s stock after purchasing an additional 97 shares during the quarter. Archford Capital Strategies LLC’s holdings in Genuine Parts were worth $750,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC increased its position in shares of Genuine Parts by 0.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 86,618 shares of the specialty retailer’s stock valued at $11,981,000 after purchasing an additional 635 shares during the last quarter. Forza Wealth Management LLC lifted its position in Genuine Parts by 11.5% during the second quarter. Forza Wealth Management LLC now owns 3,886 shares of the specialty retailer’s stock valued at $538,000 after purchasing an additional 400 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in Genuine Parts by 4.5% during the second quarter. 180 Wealth Advisors LLC now owns 3,173 shares of the specialty retailer’s stock valued at $433,000 after purchasing an additional 136 shares during the period. Cornerstone Wealth Management LLC increased its position in Genuine Parts by 7.2% in the second quarter. Cornerstone Wealth Management LLC now owns 24,723 shares of the specialty retailer’s stock worth $3,420,000 after buying an additional 1,661 shares in the last quarter. Finally, ORG Partners LLC raised its stake in shares of Genuine Parts by 4,375.0% in the second quarter. ORG Partners LLC now owns 537 shares of the specialty retailer’s stock worth $73,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Wedbush dropped their target price 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. UBS Group lowered their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Finally, The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Trading Up 0.4 %

GPC stock traded up $0.54 during midday trading on Friday, reaching $139.10. 111,489 shares of the company traded hands, compared to its average volume of 1,009,846. The firm has a market capitalization of $19.38 billion, a price-to-earnings ratio of 15.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The business has a 50 day moving average of $138.92 and a 200-day moving average of $146.27. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 30.03% and a net margin of 5.24%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. As a group, sell-side analysts expect that Genuine Parts will post 9.36 earnings per share 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 sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.37% of the stock is owned by insiders.

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.