American Century Companies Inc. decreased its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Free Report) by 56.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,036 shares of the company’s stock after selling 124,669 shares during the period. American Century Companies Inc. owned 0.16% of Advance Auto Parts worth $5,483,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of AAP. Clear Street Markets LLC lifted its holdings in shares of Advance Auto Parts by 245.9% in the 1st quarter. Clear Street Markets LLC now owns 211 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Advance Auto Parts in the 2nd quarter worth about $28,000. UMB Bank n.a. grew its position in Advance Auto Parts by 508.3% during the 3rd quarter. UMB Bank n.a. now owns 511 shares of the company’s stock valued at $29,000 after purchasing an additional 427 shares during the last quarter. Covestor Ltd grew its position in Advance Auto Parts by 113.7% during the 1st quarter. Covestor Ltd now owns 156 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. Finally, Natixis purchased a new stake in Advance Auto Parts during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on AAP shares. Mizuho started coverage on shares of Advance Auto Parts in a research note on Tuesday, March 19th. They set a “neutral” rating and a $78.00 target price on the stock. Royal Bank of Canada boosted their price target on shares of Advance Auto Parts from $47.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Barclays increased their price objective on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Finally, TheStreet raised shares of Advance Auto Parts from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $69.88.
Get Our Latest Analysis on Advance Auto Parts
Insider Activity at Advance Auto Parts
In related news, EVP Herman L. Word, Jr. sold 1,858 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $86.08, for a total value of $159,936.64. Following the transaction, the executive vice president now owns 10,448 shares of the company’s stock, valued at $899,363.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Advance Auto Parts news, EVP Herman L. Word, Jr. sold 1,858 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $86.08, for a total value of $159,936.64. Following the completion of the transaction, the executive vice president now owns 10,448 shares in the company, valued at $899,363.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carla Jean Bailo acquired 310 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was bought at an average price of $81.19 per share, with a total value of $25,168.90. Following the purchase, the director now directly owns 5,789 shares of the company’s stock, valued at $470,008.91. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by corporate insiders.
Advance Auto Parts Trading Up 1.3 %
AAP traded up $1.07 during trading hours on Wednesday, reaching $85.32. The company’s stock had a trading volume of 2,249,801 shares, compared to its average volume of 1,929,134. The stock has a market cap of $5.08 billion, a PE ratio of 115.30, a P/E/G ratio of 1.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.20 and a quick ratio of 0.29. Advance Auto Parts, Inc. has a fifty-two week low of $47.73 and a fifty-two week high of $129.90. The business’s 50-day moving average is $70.31 and its 200-day moving average is $61.16.
Advance Auto Parts (NYSE:AAP – Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.83). Advance Auto Parts had a net margin of 0.39% and a return on equity of 1.68%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the firm earned $2.88 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts predict that Advance Auto Parts, Inc. will post 3.95 earnings per share for the current fiscal year.
Advance Auto Parts Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, April 11th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 135.14%.
Advance Auto Parts Profile
(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.
Read More
Before you consider Advance Auto Parts, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Advance Auto Parts wasn’t on the list.
While Advance Auto Parts currently has a “Reduce” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
link