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

KBC Group NV raised its position in Genuine Parts (NYSE:GPC) by 70.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 363,907 shares of the specialty retailer’s stock after acquiring an additional 150,356 shares during the period. KBC Group NV owned about 0.26% of Genuine Parts worth $50,831,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts in the 3rd quarter valued at $31,000. Concord Wealth Partners increased its holdings in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of Genuine Parts in the 2nd quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts during the 3rd quarter worth about $44,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $123.87 on Friday. The business’s fifty day moving average is $131.02 and its two-hundred day 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. The firm has a market cap of $17.22 billion, a P/E ratio of 15.94 and a beta of 0.92. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $2.49 EPS. Equities research analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

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

Wall Street Analyst Weigh In

GPC has been the topic of a number of analyst reports. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Wedbush cut their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Evercore ISI lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $139.57.

About Genuine Parts

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.