KBC Group NV Has $50.83 Million Stake in Genuine Parts (NYSE:GPC)

KBC Group NV boosted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 70.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 363,907 shares of the specialty retailer's stock after buying an additional 150,356 shares during the period. KBC Group NV owned approximately 0.26% of Genuine Parts worth $50,831,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners lifted its position in shares of Genuine Parts by 79.3% in 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 in the last quarter. Triad Wealth Partners LLC acquired a new position in Genuine Parts during the second quarter worth $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at $44,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Performance

Genuine Parts stock traded down $1.23 during mid-day trading on Friday, hitting $122.62. 1,076,399 shares of the company's stock traded hands, compared to its average volume of 1,057,741. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 15.94 and a beta of 0.92. The firm has a 50 day simple moving average of $131.02 and a two-hundred day simple moving average of $138.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 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 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 quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 EPS. On average, research analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared 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 of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 3.26%. Genuine Parts's payout ratio is currently 51.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GPC. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a "hold" rating in a research report on Monday. Evercore ISI increased 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. JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Finally, Truist Financial cut their price target on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $139.57.

Genuine Parts 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.