KBC Group NV Buys 11,106 Shares of Genuine Parts (NYSE:GPC)


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KBC Group NV lifted its stake in Genuine Parts (NYSE:GPC) by 21.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,083 shares of the specialty retailer’s stock after buying an additional 11,106 shares during the quarter. KBC Group NV’s holdings in Genuine Parts were worth $7,176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPC. Norges Bank bought a new position in shares of Genuine Parts in the fourth quarter worth about $132,457,000. Bank of New York Mellon Corp raised its stake in shares of Genuine Parts by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,771,165 shares of the specialty retailer’s stock worth $177,878,000 after buying an additional 195,329 shares during the period. Federated Hermes Inc. raised its stake in shares of Genuine Parts by 42.5% in the fourth quarter. Federated Hermes Inc. now owns 614,038 shares of the specialty retailer’s stock worth $61,668,000 after buying an additional 183,224 shares during the period. Squarepoint Ops LLC raised its stake in Genuine Parts by 88.5% during the 4th quarter. Squarepoint Ops LLC now owns 310,510 shares of the specialty retailer’s stock valued at $31,185,000 after purchasing an additional 145,780 shares during the period. Finally, London & Capital Asset Management Ltd bought a new stake in Genuine Parts during the 4th quarter valued at approximately $13,425,000. 76.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Genuine Parts stock opened at $127.25 on Tuesday. The stock has a market cap of $18.38 billion, a price-to-earnings ratio of -94.96 and a beta of 1.05. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.66 and a current ratio of 1.23. The stock has a 50 day moving average price of $118.53 and a 200-day moving average price of $104.99. Genuine Parts has a one year low of $67.12 and a one year high of $128.46.

Genuine Parts (NYSE:GPC) last announced its earnings results on Wednesday, April 21st. The specialty retailer reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.36. The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Genuine Parts had a positive return on equity of 23.26% and a negative net margin of 1.10%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Sell-side analysts predict that Genuine Parts will post 5.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 4th will be issued a $0.815 dividend. This represents a $3.26 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Thursday, June 3rd. Genuine Parts’s dividend payout ratio (DPR) is 57.29%.

GPC has been the topic of several recent analyst reports. Argus lifted their target price on Genuine Parts from $109.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. Royal Bank of Canada lifted their target price on Genuine Parts from $115.00 to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, April 29th. Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, April 20th. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $115.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, TheStreet raised Genuine Parts from a “c+” rating to a “b” rating in a research note on Monday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $121.67.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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