SG Americas Securities LLC acquired a new stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,181 shares of the company’s stock, valued at approximately $865,000.
Several other hedge funds and other institutional investors have also made changes to their positions in AAP. Park Avenue Securities LLC raised its holdings in Advance Auto Parts by 23.7% in the first quarter. Park Avenue Securities LLC now owns 1,565 shares of the company’s stock valued at $324,000 after acquiring an additional 300 shares in the last quarter. Gries Financial LLC raised its holdings in Advance Auto Parts by 139.5% in the first quarter. Gries Financial LLC now owns 9,000 shares of the company’s stock valued at $1,863,000 after acquiring an additional 5,242 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Advance Auto Parts by 26.0% in the first quarter. Nisa Investment Advisors LLC now owns 20,129 shares of the company’s stock valued at $4,166,000 after acquiring an additional 4,150 shares in the last quarter. United Asset Strategies Inc. raised its holdings in Advance Auto Parts by 0.8% in the first quarter. United Asset Strategies Inc. now owns 9,408 shares of the company’s stock valued at $1,947,000 after acquiring an additional 73 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Advance Auto Parts in the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Advance Auto Parts from $247.00 to $217.00 in a report on Wednesday, May 25th. Stephens cut their price objective on shares of Advance Auto Parts from $246.00 to $215.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 25th. MKM Partners began coverage on shares of Advance Auto Parts in a report on Thursday, June 23rd. They set a “buy” rating and a $195.00 price objective on the stock. Citigroup cut their price objective on shares of Advance Auto Parts from $294.00 to $250.00 in a report on Friday, May 13th. Finally, StockNews.com cut shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $242.17.
Advance Auto Parts Stock Performance
NYSE:AAP opened at $193.62 on Monday. The firm’s fifty day moving average price is $182.92 and its 200 day moving average price is $203.76. Advance Auto Parts, Inc. has a 1-year low of $164.00 and a 1-year high of $244.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.20 and a quick ratio of 0.25. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21.
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its quarterly earnings data on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.53 by $0.04. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.39 billion. Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. Advance Auto Parts’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $3.34 EPS. On average, sell-side analysts expect that Advance Auto Parts, Inc. will post 13.7 EPS for the current year.
Advance Auto Parts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 17th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $6.00 annualized dividend and a dividend yield of 3.10%. Advance Auto Parts’s payout ratio is currently 66.82%.
About Advance Auto Parts
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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