Capital Guardian Trust Co. trimmed its stake in shares of Advance Auto Parts Inc (NYSE:AAP) by 66.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,350 shares of the company’s stock after selling 264,557 shares during the period. Capital Guardian Trust Co. owned approximately 0.18% of Advance Auto Parts worth $15,314,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. First Trust Advisors LP raised its position in Advance Auto Parts by 148.1% in the 1st quarter. First Trust Advisors LP now owns 22,360 shares of the company’s stock worth $3,315,000 after purchasing an additional 13,347 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Advance Auto Parts by 10.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 188,241 shares of the company’s stock valued at $27,909,000 after buying an additional 18,149 shares during the period. Mason Street Advisors LLC increased its stake in shares of Advance Auto Parts by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 10,193 shares of the company’s stock valued at $1,511,000 after buying an additional 118 shares during the period. Pacer Advisors Inc. increased its stake in shares of Advance Auto Parts by 3.0% in the 1st quarter. Pacer Advisors Inc. now owns 1,517 shares of the company’s stock valued at $225,000 after buying an additional 44 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Advance Auto Parts by 0.4% in the 1st quarter. Prudential Financial Inc. now owns 103,689 shares of the company’s stock valued at $15,373,000 after buying an additional 453 shares during the period.
Several analysts have weighed in on the company. Morgan Stanley reissued an “overweight” rating and set a $125.00 price objective (down from $160.00) on shares of Advance Auto Parts in a report on Thursday, July 6th. Bank of America Corporation lowered shares of Advance Auto Parts from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $150.00 to $90.00 in a report on Friday, July 7th. BTIG Research reaffirmed a “sell” rating and issued a $109.00 price objective (down from $120.00) on shares of Advance Auto Parts in a research note on Thursday, June 22nd. Deutsche Bank AG reaffirmed a “buy” rating and set a $139.00 target price (down previously from $164.00) on shares of Advance Auto Parts in a report on Friday, July 21st. Finally, Cleveland Research cut shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 28th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $123.08.
Shares of Advance Auto Parts Inc (AAP) traded down 0.39% during trading on Monday, reaching $98.81. 543,235 shares of the company were exchanged. The firm’s 50 day moving average price is $99.61 and its 200 day moving average price is $125.12. Advance Auto Parts Inc has a one year low of $82.21 and a one year high of $177.83. The company has a market capitalization of $7.30 billion, a PE ratio of 19.73 and a beta of 0.92.
Advance Auto Parts (NYSE:AAP) last announced 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 business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Advance Auto Parts had a net margin of 3.91% and a return on equity of 14.71%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 earnings per share. Equities research analysts forecast that Advance Auto Parts Inc will post $5.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, September 21st. Advance Auto Parts’s dividend payout ratio (DPR) is presently 4.80%.
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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