Genuine Parts Company $GPC Shares Acquired by Assetmark Inc.

Assetmark Inc. boosted its holdings in Genuine Parts Company (NYSE:GPC) by 33.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,158 shares of the specialty retailer’s stock after buying an additional 16,156 shares during the quarter. Assetmark Inc.’s holdings in Genuine Parts were worth $9,031,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Genuine Parts by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,717 shares of the specialty retailer’s stock valued at $2,111,000 after purchasing an additional 671 shares during the last quarter. Woodline Partners LP increased its position in Genuine Parts by 40.7% during the first quarter. Woodline Partners LP now owns 11,746 shares of the specialty retailer’s stock worth $1,399,000 after buying an additional 3,396 shares during the period. CWM LLC lifted its stake in Genuine Parts by 108.6% in the second quarter. CWM LLC now owns 8,012 shares of the specialty retailer’s stock valued at $972,000 after buying an additional 4,172 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Genuine Parts by 8.1% in the second quarter. Nordea Investment Management AB now owns 11,261 shares of the specialty retailer’s stock valued at $1,359,000 after acquiring an additional 845 shares during the period. Finally, Stratos Wealth Partners LTD. grew its position in shares of Genuine Parts by 16.3% during the second quarter. Stratos Wealth Partners LTD. now owns 2,771 shares of the specialty retailer’s stock worth $336,000 after acquiring an additional 388 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.2%

Genuine Parts stock opened at $147.37 on Tuesday. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $151.57. The firm has a market capitalization of $20.50 billion, a price-to-earnings ratio of 25.36 and a beta of 0.74. The stock’s fifty day moving average is $133.74 and its two-hundred day moving average is $133.66. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14.

Analysts Set New Price Targets

Several brokerages have issued reports on GPC. JPMorgan Chase & Co. boosted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Evercore ISI set a $175.00 price target on shares of Genuine Parts in a research note on Wednesday, February 11th. UBS Group reissued a “neutral” rating on shares of Genuine Parts in a report on Wednesday, February 11th. Truist Financial lifted their price objective on Genuine Parts from $146.00 to $162.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.14.

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.