Beacon Financial Group buys $5.7 Million stake in Genuine Parts Company (GPC)

Genuine Parts Company (GPC) : Beacon Financial Group scooped up 53,735 additional shares in Genuine Parts Company during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 56,908 shares of Genuine Parts Company which is valued at $5.7 Million.Genuine Parts Company makes up approximately 1.23% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , Cacti Asset Management reduced its stake in GPC by selling 2,850 shares or 1.13% in the most recent quarter. The Hedge Fund company now holds 248,724 shares of GPC which is valued at $24.8 Million. Genuine Parts Company makes up approx 2.67% of Cacti Asset Management’s portfolio.

On the company’s financial health, Genuine Parts Company reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 16, 2016. Analyst had a consensus of $1.01. The company had revenue of $3681.80 million for the quarter, compared to analysts expectations of $3747.25 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on Genuine Parts Company. Genuine Parts Company was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 4, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 17, 2016 to “Sector Perform” and Lowered the Price Target to $ 90 from a previous price target of $92 .Shares were Downgraded by Wedbush on Feb 17, 2016 to ” Neutral” and Lowered the Price Target to $ 91 from a previous price target of $93 .

Genuine Parts Company closed down -0.4 points or -0.41% at $96.79 with 5,52,271 shares getting traded on Monday. Post opening the session at $97.54, the shares hit an intraday low of $96.79 and an intraday high of $98.03 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

Leave a Reply

Genuine Parts Company - Is it time to Sell?

Top Brokerage Firms are advising their investors on Genuine Parts Company. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.