Verition Fund Management LLC decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 25.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,708 shares of the company’s stock after selling 1,574 shares during the period. Verition Fund Management LLC’s holdings in Advance Auto Parts were worth $469,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Tredje AP fonden bought a new position in shares of Advance Auto Parts in the third quarter worth $1,395,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Advance Auto Parts during the third quarter valued at approximately $16,576,000. Commerzbank Aktiengesellschaft FI purchased a new position in Advance Auto Parts during the third quarter valued at approximately $254,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Advance Auto Parts by 54.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,242 shares of the company’s stock valued at $322,000 after buying an additional 1,144 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Advance Auto Parts by 22,776.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 361,909 shares of the company’s stock valued at $35,902,000 after acquiring an additional 360,327 shares in the last quarter.
Several equities research analysts have weighed in on AAP shares. Zacks Investment Research upgraded shares of Advance Auto Parts from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Tuesday, January 16th. Morgan Stanley set a $120.00 target price on shares of Advance Auto Parts and gave the company a “buy” rating in a research note on Tuesday, December 12th. JPMorgan Chase & Co. raised their target price on shares of Advance Auto Parts from $110.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Stephens set a $108.00 target price on shares of Advance Auto Parts and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, Robert W. Baird restated a “neutral” rating and issued a $125.00 target price (up from $100.00) on shares of Advance Auto Parts in a research note on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $112.14.
In related news, Director John C. Brouillard sold 1,745 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $116.08, for a total transaction of $202,559.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tammy M. Finley sold 342 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $116.35, for a total transaction of $39,791.70. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
Shares of Advance Auto Parts, Inc. (AAP) opened at $111.71 on Friday. Advance Auto Parts, Inc. has a one year low of $78.81 and a one year high of $152.38. The company has a current ratio of 1.56, a quick ratio of 0.36 and a debt-to-equity ratio of 0.31. The company has a market cap of $8,525.24, a price-to-earnings ratio of 21.42, a PEG ratio of 1.48 and a beta of 1.12.
Advance Auto Parts (NYSE:AAP) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.12. Advance Auto Parts had a net margin of 5.07% and a return on equity of 12.45%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. research analysts predict that Advance Auto Parts, Inc. will post 6.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Friday, March 23rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.21%. Advance Auto Parts’s payout ratio is currently 3.74%.
Advance Auto Parts Company Profile
Advance Auto Parts, Inc provides automotive aftermarket parts in North America, serving do-it-for-me (Professional) and do-it-yourself (DIY), customers. The Company’s stores and branches offer a selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks.
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