Vanguard Group Inc. decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,829,093 shares of the company's stock after selling 316,031 shares during the period. Vanguard Group Inc. owned 11.48% of Advance Auto Parts worth $416,780,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in AAP. Federated Hermes Inc. grew its stake in Advance Auto Parts by 2,716,800.0% in the fourth quarter. Federated Hermes Inc. now owns 842,239 shares of the company's stock valued at $51,402,000 after acquiring an additional 842,208 shares during the period. UBS Group AG grew its position in Advance Auto Parts by 337.7% in the 4th quarter. UBS Group AG now owns 811,734 shares of the company's stock valued at $49,540,000 after purchasing an additional 626,294 shares during the period. Norges Bank bought a new stake in Advance Auto Parts during the 4th quarter valued at $37,522,000. Jacobs Levy Equity Management Inc. raised its holdings in Advance Auto Parts by 94.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 931,125 shares of the company's stock worth $52,078,000 after buying an additional 452,488 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Advance Auto Parts in the third quarter valued at $11,410,000. 88.75% of the stock is currently owned by institutional investors.
Advance Auto Parts Stock Performance
NYSE:AAP traded up $0.91 on Thursday, reaching $62.70. 1,116,618 shares of the company's stock were exchanged, compared to its average volume of 1,727,696. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 90.87, a P/E/G ratio of 1.22 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 0.29. The stock has a fifty day simple moving average of $69.97 and a 200-day simple moving average of $69.27. Advance Auto Parts, Inc. has a 52 week low of $47.73 and a 52 week high of $88.56.
Advance Auto Parts (NYSE:AAP - Get Free Report) last released its quarterly earnings data on Wednesday, May 29th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.02). Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period last year, the business posted $0.72 earnings per share. The firm's quarterly revenue was down .3% on a year-over-year basis. As a group, sell-side analysts predict that Advance Auto Parts, Inc. will post 3.72 earnings per share for the current year.
Advance Auto Parts Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. Advance Auto Parts's dividend payout ratio (DPR) is 144.93%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on AAP. UBS Group raised their price target on shares of Advance Auto Parts from $68.00 to $72.00 and gave the company a "neutral" rating in a research report on Tuesday, May 28th. JPMorgan Chase & Co. lifted their target price on Advance Auto Parts from $55.00 to $68.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. Royal Bank of Canada lowered their price target on Advance Auto Parts from $68.00 to $65.00 and set a "sector perform" rating for the company in a research report on Thursday, May 30th. Evercore ISI raised their price objective on Advance Auto Parts from $72.00 to $73.00 and gave the company an "in-line" rating in a research note on Thursday, June 20th. Finally, StockNews.com upgraded shares of Advance Auto Parts from a "sell" rating to a "hold" rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $64.00.
Check Out Our Latest Report on Advance Auto Parts
About Advance Auto Parts
(Free Report)
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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