Genuine Parts (NYSE:GPC) Shares Bought by KBC Group NV

KBC Group NV grew its stake in Genuine Parts (NYSE:GPC) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 372,191 shares of the specialty retailer’s stock after purchasing an additional 8,284 shares during the quarter. KBC Group NV owned approximately 0.27% of Genuine Parts worth $43,457,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $31,000. Concord Wealth Partners lifted its stake in 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 last quarter. Catalyst Capital Advisors LLC acquired a new position in Genuine Parts in the third quarter worth $44,000. Finally, First Financial Corp IN bought a new stake in Genuine Parts during the fourth quarter valued at $44,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC stock opened at $120.14 on Tuesday. The company has a 50-day simple moving average of $120.13 and a 200 day simple moving average of $129.76. The company has a market capitalization of $16.70 billion, a P/E ratio of 15.46 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent research reports. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $141.50.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

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.