KBC Group NV Sells 272,281 Shares of Genuine Parts Company (NYSE:GPC)

by · The Cerbat Gem

KBC Group NV reduced its stake in Genuine Parts Company (NYSE:GPC – Free Report) by 73.2% during the first quarter, Holdings Channel.com reports. The fund owned 99,910 shares of the specialty retailer’s stock after selling 272,281 shares during the period. KBC Group NV’s holdings in Genuine Parts were worth $11,903,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Millstone Evans Group LLC acquired a new position in shares of Genuine Parts in the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd bought a new position in Genuine Parts during the fourth quarter worth $33,000. OFI Invest Asset Management acquired a new position in Genuine Parts in the fourth quarter valued at $34,000. Investors Research Corp boosted its position in Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in Genuine Parts by 7,950.0% during the first quarter. Golden State Wealth Management LLC now owns 322 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 318 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 3.3%

Shares of NYSE GPC opened at $125.27 on Wednesday. The business has a 50-day moving average of $122.29 and a 200-day moving average of $119.87. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 20.57 and a beta of 0.74. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $149.22.

Genuine Parts (NYSE:GPC – Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. Sell-side analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. Genuine Parts’s dividend payout ratio (DPR) is currently 67.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI cut their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Argus raised Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Truist Financial increased their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.86.

Get Our Latest Research Report on GPC

About Genuine Parts

(Free Report)

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.

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