Dana Investment Advisors Inc. lifted its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,931 shares of the company’s stock after acquiring an additional 1,534 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.09% of Advance Auto Parts worth $8,432,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Advance Auto Parts by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 7,291,395 shares of the company’s stock worth $1,139,936,000 after acquiring an additional 277,906 shares in the last quarter. Clearbridge Investments LLC raised its position in Advance Auto Parts by 3.6% in the 1st quarter. Clearbridge Investments LLC now owns 3,313,689 shares of the company’s stock worth $685,801,000 after purchasing an additional 114,789 shares during the last quarter. JPMorgan Chase & Co. raised its position in Advance Auto Parts by 22.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock worth $456,297,000 after purchasing an additional 482,858 shares during the last quarter. Invesco Ltd. raised its position in Advance Auto Parts by 10.8% in the 1st quarter. Invesco Ltd. now owns 1,018,797 shares of the company’s stock worth $210,850,000 after purchasing an additional 99,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Advance Auto Parts by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 858,038 shares of the company’s stock worth $134,168,000 after purchasing an additional 20,904 shares during the last quarter. 96.04% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Stephens dropped their target price on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating for the company in a research report on Monday, November 21st. Raymond James reduced their price objective 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, March 1st. Evercore ISI upped their target price on shares of Advance Auto Parts to $160.00 in a report on Tuesday, February 7th. Roth Capital reaffirmed a “neutral” rating and issued a $140.00 target price (down from $180.00) on shares of Advance Auto Parts in a report on Monday, February 13th. Finally, Wells Fargo & Company lowered their price target on shares of 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Advance Auto Parts presently has an average rating of “Hold” and an average target price of $166.89.
Advance Auto Parts Stock Down 0.9 %
AAP traded down $1.18 during midday trading on Friday, hitting $128.65. The company had a trading volume of 333,753 shares, compared to its average volume of 1,165,180. Advance Auto Parts, Inc. has a 52 week low of $127.55 and a 52 week high of $231.43. The company has a quick ratio of 0.21, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.09 and a beta of 1.12. The stock’s 50 day moving average price is $147.43 and its 200 day moving average price is $158.83.
Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.47. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Advance Auto Parts had a net margin of 4.50% and a return on equity of 28.53%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $2.07 earnings per share. On average, research analysts anticipate that Advance Auto Parts, Inc. will post 10.66 earnings per share for the current fiscal year.
Advance Auto Parts Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Thursday, April 13th. Advance Auto Parts’s dividend payout ratio is currently 72.55%.
About Advance Auto Parts
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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