New York State Common Retirement Fund lowered its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,345 shares of the company’s stock after selling 2,751 shares during the period. New York State Common Retirement Fund owned about 0.12% of Advance Auto Parts worth $14,766,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. State Street Corp grew its stake in shares of Advance Auto Parts by 2.6% in the 4th quarter. State Street Corp now owns 2,929,142 shares of the company’s stock worth $705,541,000 after purchasing an additional 74,627 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Advance Auto Parts by 2.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,883,817 shares of the company’s stock worth $451,890,000 after buying an additional 53,418 shares during the period. Bank of America Corp DE boosted its holdings in shares of Advance Auto Parts by 4.1% in the fourth quarter. Bank of America Corp DE now owns 999,493 shares of the company’s stock worth $239,759,000 after buying an additional 39,329 shares during the period. Invesco Ltd. boosted its holdings in shares of Advance Auto Parts by 15.0% in the fourth quarter. Invesco Ltd. now owns 919,397 shares of the company’s stock worth $220,546,000 after buying an additional 119,664 shares during the period. Finally, Scharf Investments LLC boosted its holdings in shares of Advance Auto Parts by 4.0% in the first quarter. Scharf Investments LLC now owns 831,357 shares of the company’s stock worth $172,080,000 after buying an additional 32,195 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Stephens decreased their target price on shares of Advance Auto Parts from $246.00 to $215.00 and set an “equal weight” rating for the company in a report on Wednesday, May 25th. Guggenheim decreased their price target on shares of Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Wells Fargo & Company decreased their price target on shares of Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, May 24th. StockNews.com cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Finally, MKM Partners started coverage on shares of Advance Auto Parts in a report on Thursday, June 23rd. They set a “buy” rating and a $195.00 price target for the company. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.17.
Advance Auto Parts Trading Up 1.0 %
NYSE:AAP opened at $193.42 on Friday. Advance Auto Parts, Inc. has a 12 month low of $164.00 and a 12 month high of $244.55. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.11 and a beta of 1.22. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $183.69 and its 200-day moving average is $202.69.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings results on Monday, May 23rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.53 by $0.04. Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm posted $3.34 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Advance Auto Parts, Inc. will post 13.68 EPS for the current year.
Advance Auto Parts Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 17th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, June 16th. Advance Auto Parts’s dividend payout ratio (DPR) is currently 66.82%.
About Advance Auto Parts
Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.
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