Cetera Investment Advisers Buys 147,655 Shares of Genuine Parts (NYSE:GPC)

Cetera Investment Advisers boosted its stake in shares of Genuine Parts (NYSE:GPC) by 1,473.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,679 shares of the specialty retailer’s stock after purchasing an additional 147,655 shares during the quarter. Cetera Investment Advisers owned about 0.11% of Genuine Parts worth $24,429,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC boosted its position in Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the period. North Star Investment Management Corp. boosted its position in shares of Genuine Parts by 8.5% in the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after acquiring an additional 70 shares during the period. CHICAGO TRUST Co NA boosted its position in shares of Genuine Parts by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after acquiring an additional 71 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Genuine Parts by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock valued at $489,000 after acquiring an additional 76 shares during the period. Finally, Grimes & Company Inc. boosted its position in shares of Genuine Parts by 2.5% in the fourth quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after acquiring an additional 79 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction 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 in the company, valued at $1,967,677.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group increased their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Evercore ISI cut their target price on 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. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group cut their target price on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, Wedbush cut their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Stock Performance

Genuine Parts stock opened at $142.52 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The stock has a fifty day moving average price of $139.87 and a two-hundred day moving average price of $146.55. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The firm has a market capitalization of $19.86 billion, a P/E ratio of 15.89 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, analysts anticipate that Genuine Parts will post 9.36 EPS for the current fiscal year.

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.