Fifth Third Bancorp decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 41.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,011 shares of the company’s stock after selling 9,871 shares during the period. Fifth Third Bancorp’s holdings in Advance Auto Parts were worth $2,060,000 as of its most recent SEC filing.
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Several other hedge funds and other institutional investors also recently modified their holdings of the business. Xponance Inc. increased its stake in shares of Advance Auto Parts by 16.6% in the 4th quarter. Xponance Inc. now owns 9,193 shares of the company’s stock valued at $1,352,000 after purchasing an additional 1,308 shares during the last quarter. Inlet Private Wealth LLC increased its stake in shares of Advance Auto Parts by 46.2% in the 4th quarter. Inlet Private Wealth LLC now owns 28,640 shares of the company’s stock valued at $4,211,000 after purchasing an additional 9,050 shares during the last quarter. Ceredex Value Advisors LLC increased its stake in shares of Advance Auto Parts by 36.2% in the 4th quarter. Ceredex Value Advisors LLC now owns 247,750 shares of the company’s stock valued at $36,747,000 after purchasing an additional 65,869 shares during the last quarter. Silvant Capital Management LLC bought a new stake in Advance Auto Parts during the 4th quarter worth $50,000. Finally, DAVENPORT & Co LLC grew its position in Advance Auto Parts by 4.9% during the 4th quarter. DAVENPORT & Co LLC now owns 8,261 shares of the company’s stock worth $1,215,000 after acquiring an additional 389 shares during the last quarter. Institutional investors own 96.04% of the company’s stock.
Advance Auto Parts Stock Up 0.4 %
Shares of NYSE:AAP opened at $120.69 on Friday. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.00 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 0.21. The business’s 50-day moving average is $134.67 and its 200-day moving average is $150.55. Advance Auto Parts, Inc. has a 1 year low of $109.05 and a 1 year high of $231.43.
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 analysts’ consensus estimates of $2.41 by $0.47. Advance Auto Parts had a return on equity of 28.53% and a net margin of 4.50%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the business earned $2.07 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts predict that Advance Auto Parts, Inc. will post 10.64 earnings per share for the current year.
Advance Auto Parts Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Thursday, April 13th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 72.55%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on AAP shares. Roth Capital restated a “neutral” rating and set a $140.00 price objective (down previously from $180.00) on shares of Advance Auto Parts in a research report on Monday, February 13th. Morgan Stanley reduced their price objective on Advance Auto Parts from $165.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 1st. Raymond James reduced their price objective on Advance Auto Parts from $200.00 to $180.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 1st. DA Davidson reduced their price objective on Advance Auto Parts from $170.00 to $142.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 1st. Finally, Citigroup reduced their price objective on Advance Auto Parts from $159.00 to $153.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 1st. Thirteen research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $166.00.
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: Advance Auto Parts/Carquest U.S., Carquest Canada, Worldpac, and Independents. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.
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