Saturna Capital Corp Lowers stake in Genuine Parts Company (GPC)

Genuine Parts Company (GPC) : Saturna Capital Corp reduced its stake in Genuine Parts Company by 0.09% during the most recent quarter end. The investment management company now holds a total of 503,710 shares of Genuine Parts Company which is valued at $51,378,420 after selling 470 shares in Genuine Parts Company , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Genuine Parts Company makes up approximately 1.58% of Saturna Capital Corp’s portfolio.

Other Hedge Funds, Including , Feltz Wealth Plan boosted its stake in GPC in the latest quarter, The investment management firm added 1,186 additional shares and now holds a total of 40,747 shares of Genuine Parts Company which is valued at $4,156,194. Genuine Parts Company makes up approx 0.22% of Feltz Wealth Plan’s portfolio.Morningstar Investment Services boosted its stake in GPC in the latest quarter, The investment management firm added 32,475 additional shares and now holds a total of 261,414 shares of Genuine Parts Company which is valued at $26,585,804. Genuine Parts Company makes up approx 0.82% of Morningstar Investment Services’s portfolio.Smith Salley Associates boosted its stake in GPC in the latest quarter, The investment management firm added 3,413 additional shares and now holds a total of 18,464 shares of Genuine Parts Company which is valued at $1,887,759. Genuine Parts Company makes up approx 0.42% of Smith Salley Associates’s portfolio. Regentatlantic Capital sold out all of its stake in GPC during the most recent quarter. The investment firm sold 2,540 shares of GPC which is valued $254,025.

Genuine Parts Company opened for trading at $101.49 and hit $102.73 on the upside on Monday, eventually ending the session at $102.52, with a gain of 1.00% or 1.02 points. The heightened volatility saw the trading volume jump to 3,98,293 shares. Company has a market cap of $15,267 M.

On the company’s financial health, Genuine Parts Company reported $1.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $1.29. The company had revenue of $3899.60 million for the quarter, compared to analysts expectations of $3975.85 million. The company’s revenue was down -1.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on Genuine Parts Company. Genuine Parts Company was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Gabelli & Co Downgraded Genuine Parts Company on Jul 14, 2016 to ” Hold”, Price Target of the shares are set at $106.

Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts industrial replacement parts office products and electrical/electronic materials. The Company operates through four segments: Automotive Parts Group which distributes automotive parts and accessory items; Industrial Parts Group which distributes industrial replacement parts and related supplies; Office Products Group which is engaged in the wholesale distribution of a line of office and other business related products and Electrical/Electronic Materials Group which distributes materials to more than 20000 electrical and electronic manufacturers as well as industrial assembly and specialty wire and cable markets in North America. In 2014 the Company’s business was conducted from approximately 2600 locations throughout the United States Canada Mexico Australia and New Zealand.

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