KBC Group NV Purchases 150,356 Shares of Genuine Parts (NYSE:GPC)

KBC Group NV grew its holdings in Genuine Parts (NYSE:GPC) by 70.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 363,907 shares of the specialty retailer’s stock after purchasing an additional 150,356 shares during the quarter. KBC Group NV’s holdings in Genuine Parts were worth $50,831,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $31,000. Concord Wealth Partners grew its stake in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Triad Wealth Partners LLC bought a new stake in Genuine Parts in the second quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Genuine Parts in the third quarter valued at about $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GPC shares. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. UBS Group dropped their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Stock Up 0.2 %

Shares of Genuine Parts stock opened at $123.87 on Friday. The firm has a market cap of $17.22 billion, a PE ratio of 15.94 and a beta of 0.92. The business’s 50 day simple moving average is $131.02 and its 200 day simple moving average is $138.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. On average, analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.23%. Genuine Parts’s payout ratio is presently 51.48%.

Genuine Parts Company Profile

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.