Northern Trust Corp reduced its holdings in shares of Advance Auto Parts Inc (NYSE:AAP) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 802,916 shares of the company’s stock after selling 41,098 shares during the period. Northern Trust Corp owned 1.09% of Advance Auto Parts worth $93,611,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. UBS Asset Management Americas Inc. grew its holdings in Advance Auto Parts by 5.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 197,802 shares of the company’s stock worth $23,062,000 after acquiring an additional 9,561 shares during the period. Lionstone Capital Management LLC grew its holdings in Advance Auto Parts by 26.9% during the 2nd quarter. Lionstone Capital Management LLC now owns 154,000 shares of the company’s stock worth $17,955,000 after acquiring an additional 32,600 shares during the period. Mutual of America Capital Management LLC grew its holdings in Advance Auto Parts by 9.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 8,919 shares of the company’s stock worth $1,040,000 after acquiring an additional 748 shares during the period. New York State Common Retirement Fund grew its holdings in Advance Auto Parts by 17.3% during the 2nd quarter. New York State Common Retirement Fund now owns 238,418 shares of the company’s stock worth $27,797,000 after acquiring an additional 35,129 shares during the period. Finally, Thrivent Financial For Lutherans grew its holdings in Advance Auto Parts by 3.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 2,810 shares of the company’s stock worth $328,000 after acquiring an additional 100 shares during the period.
AAP has been the subject of a number of recent analyst reports. Jefferies Group LLC upgraded Advance Auto Parts from a “hold” rating to a “buy” rating and decreased their price target for the stock from $150.00 to $130.00 in a report on Friday, July 7th. They noted that the move was a valuation call. Credit Suisse Group set a $150.00 price target on Advance Auto Parts and gave the stock a “buy” rating in a report on Monday, June 26th. Maxim Group reiterated a “buy” rating on shares of Advance Auto Parts in a report on Thursday, June 29th. Deutsche Bank AG reiterated a “buy” rating and set a $139.00 price target (down from $164.00) on shares of Advance Auto Parts in a report on Friday, July 21st. Finally, UBS AG reiterated a “buy” rating and set a $155.00 price target (down from $170.00) on shares of Advance Auto Parts in a report on Monday, August 7th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $123.08.
Advance Auto Parts Inc (NYSE AAP) opened at 99.50 on Friday. The company has a 50-day moving average of $99.61 and a 200 day moving average of $125.12. Advance Auto Parts Inc has a 12 month low of $82.21 and a 12 month high of $177.83. The company has a market cap of $7.32 billion, a PE ratio of 16.05 and a beta of 0.90.
Advance Auto Parts (NYSE:AAP) last issued its earnings results on Tuesday, August 15th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.07). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. Advance Auto Parts had a return on equity of 14.71% and a net margin of 3.91%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 EPS. On average, equities analysts forecast that Advance Auto Parts Inc will post $5.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.
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About Advance Auto Parts
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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