Lionstone Capital Management LLC reduced its stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 26.2{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the company’s stock after selling 12,400 shares during the period. Advance Auto Parts makes up about 2.3{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} of Lionstone Capital Management LLC’s holdings, making the stock its 13th largest holding. Lionstone Capital Management LLC owned about 0.06{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} of Advance Auto Parts worth $5,472,000 as of its most recent filing with the Securities and Exchange Commission.
→ Bank Accounts: Frozen! (From Weiss Ratings)
Several other hedge funds have also modified their holdings of the stock. Marshall Wace LLP acquired a new stake in shares of Advance Auto Parts in the third quarter valued at $15,689,000. ETF Managers Group LLC increased its holdings in Advance Auto Parts by 4.6{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} in the third quarter. ETF Managers Group LLC now owns 3,331 shares of the company’s stock valued at $521,000 after buying an additional 148 shares during the last quarter. Echo Street Capital Management LLC increased its holdings in Advance Auto Parts by 17.4{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} in the third quarter. Echo Street Capital Management LLC now owns 1,926 shares of the company’s stock valued at $301,000 after buying an additional 286 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Advance Auto Parts by 2.2{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} in the third quarter. Ensign Peak Advisors Inc now owns 89,482 shares of the company’s stock valued at $13,988,000 after buying an additional 1,960 shares during the last quarter. Finally, First Manhattan Co. increased its holdings in Advance Auto Parts by 27.2{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} in the third quarter. First Manhattan Co. now owns 6,085 shares of the company’s stock valued at $951,000 after buying an additional 1,300 shares during the last quarter. 96.04{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Wells Fargo & Company dropped their target price on Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating on the stock in a report on Thursday, January 5th. Citigroup dropped their price objective on Advance Auto Parts from $159.00 to $153.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays started coverage on Advance Auto Parts in a report on Tuesday, February 7th. They set an “underweight” rating and a $145.00 price objective on the stock. Raymond James decreased their target price on shares of Advance Auto Parts from $200.00 to $180.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Finally, DA Davidson decreased their target price on shares of Advance Auto Parts from $170.00 to $142.00 and set a “neutral” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advance Auto Parts has an average rating of “Hold” and a consensus target price of $166.89.
Advance Auto Parts Trading Down 0.8 {ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303}
AAP stock traded down $1.11 during midday trading on Friday, hitting $138.10. The stock had a trading volume of 954,006 shares, compared to its average volume of 1,143,436. Advance Auto Parts, Inc. has a 12-month low of $137.00 and a 12-month high of $231.43. The company’s 50-day moving average price is $148.57 and its 200 day moving average price is $161.55. The firm has a market cap of $8.19 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.13 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.23.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.47. Advance Auto Parts had a net margin of 4.50{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} and a return on equity of 28.53{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303}. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the company earned $2.07 EPS. The business’s quarterly revenue was up 3.2{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303} compared to the same quarter last year. On average, equities research analysts predict that Advance Auto Parts, Inc. will post 10.81 earnings per share for the current fiscal year.
Advance Auto Parts Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $6.00 annualized dividend and a dividend yield of 4.34{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303}. Advance Auto Parts’s dividend payout ratio is presently 72.55{ca2182fc8fed51dc37b95061ee48b5056cde1176732b225548c54a0c0156d303}.
Advance Auto Parts Profile
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
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