Wedbush Securities Inc. grew its stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,539 shares of the company’s stock after purchasing an additional 144 shares during the period. Wedbush Securities Inc.’s holdings in Advance Auto Parts were worth $609,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Advance Auto Parts by 287.6% in the 1st quarter. FMR LLC now owns 139,025 shares of the company’s stock valued at $23,708,000 after acquiring an additional 103,160 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Advance Auto Parts by 8.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,107 shares of the company’s stock valued at $2,484,000 after buying an additional 960 shares during the last quarter. Metropolitan Life Insurance Co NY raised its stake in shares of Advance Auto Parts by 113,885.7% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 7,979 shares of the company’s stock valued at $1,637,000 after buying an additional 7,972 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Advance Auto Parts by 70.9% in the 2nd quarter. Marshall Wace LLP now owns 48,909 shares of the company’s stock valued at $10,033,000 after purchasing an additional 20,289 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG increased its stake in shares of Advance Auto Parts by 15.2% in the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 2,170 shares of the company’s stock valued at $445,000 after purchasing an additional 286 shares in the last quarter. 97.61% of the stock is owned by institutional investors and hedge funds.
AAP stock opened at $204.92 on Friday. Advance Auto Parts, Inc. has a 52-week low of $173.37 and a 52-week high of $244.55. The company’s 50 day simple moving average is $223.96 and its 200-day simple moving average is $222.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.21 and a quick ratio of 0.31. The firm has a market capitalization of $12.52 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.14 and a beta of 1.30.
Advance Auto Parts (NYSE:AAP – Get Rating) last released its quarterly earnings data on Sunday, February 13th. The company reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.10. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.37 billion. Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 EPS. Sell-side analysts predict that Advance Auto Parts, Inc. will post 13.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 1st. Stockholders of record on Friday, March 18th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, March 17th. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $1.00. Advance Auto Parts’s dividend payout ratio (DPR) is 41.97%.
Several equities research analysts have commented on AAP shares. Raymond James boosted their price objective on Advance Auto Parts from $265.00 to $275.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, November 17th. DA Davidson upped their price objective on Advance Auto Parts from $250.00 to $260.00 in a report on Thursday, December 30th. Bank of America upped their price target on Advance Auto Parts from $256.00 to $282.00 and gave the stock a “buy” rating in a research note on Tuesday, November 16th. Truist Financial began coverage on Advance Auto Parts in a research report on Thursday, January 13th. They set a “buy” rating and a $273.00 price objective on the stock. Finally, Wedbush upped their price objective on Advance Auto Parts from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 16th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $250.16.
Advance Auto Parts Profile (Get Rating)
Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
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