Cibc World Market Inc. Sells 10,941 Shares of Genuine Parts Company $GPC

Cibc World Market Inc. lessened its holdings in Genuine Parts Company (NYSE:GPC) by 37.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,972 shares of the specialty retailer’s stock after selling 10,941 shares during the period. Cibc World Market Inc.’s holdings in Genuine Parts were worth $2,491,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GPC. Vanguard Group Inc. lifted its position in shares of Genuine Parts by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock worth $2,099,776,000 after buying an additional 260,787 shares during the last quarter. State Street Corp raised its stake in shares of Genuine Parts by 0.9% in the 2nd quarter. State Street Corp now owns 7,797,180 shares of the specialty retailer’s stock valued at $953,779,000 after acquiring an additional 73,361 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Genuine Parts by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,511,008 shares of the specialty retailer’s stock valued at $424,367,000 after acquiring an additional 40,970 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Genuine Parts by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,080,251 shares of the specialty retailer’s stock worth $373,425,000 after purchasing an additional 70,668 shares during the last quarter. Finally, Norges Bank bought a new stake in Genuine Parts during the second quarter worth approximately $211,661,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI set a $175.00 price objective on shares of Genuine Parts in a research note on Wednesday. UBS Group reissued a “neutral” rating on shares of Genuine Parts in a research report on Wednesday. Truist Financial upped their price target on shares of Genuine Parts from $146.00 to $162.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. Finally, The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $154.14.

Genuine Parts Stock Performance

NYSE:GPC opened at $147.37 on Monday. The firm’s 50-day moving average is $133.37 and its 200-day moving average is $133.53. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 25.36 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $151.57.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.