Wipfli Financial Advisors LLC acquired a new position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 466 shares of the company’s stock, valued at approximately $73,000.
Several other hedge funds have also recently bought and sold shares of AAP. Covestor Ltd lifted its position in Advance Auto Parts by 113.7% during the first quarter. Covestor Ltd now owns 156 shares of the company’s stock worth $32,000 after acquiring an additional 83 shares during the last quarter. Ellevest Inc. lifted its position in Advance Auto Parts by 161.0% during the second quarter. Ellevest Inc. now owns 201 shares of the company’s stock worth $35,000 after acquiring an additional 124 shares during the last quarter. Private Trust Co. NA acquired a new stake in Advance Auto Parts during the second quarter worth approximately $36,000. Rosenberg Matthew Hamilton acquired a new stake in Advance Auto Parts during the second quarter worth approximately $38,000. Finally, Central Bank & Trust Co. lifted its position in Advance Auto Parts by 61.6% during the second quarter. Central Bank & Trust Co. now owns 223 shares of the company’s stock worth $39,000 after acquiring an additional 85 shares during the last quarter. 96.04% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have issued reports on AAP shares. Wells Fargo & Company cut their price objective on shares of Advance Auto Parts from $180.00 to $150.00 and set an “equal weight” rating for the company in a research report on Thursday, January 5th. Stephens dropped their price target on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating for the company in a research report on Monday, November 21st. The Goldman Sachs Group dropped their price target on shares of Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a research report on Thursday, November 17th. Citigroup downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and dropped their price target for the company from $216.00 to $161.00 in a research report on Thursday, November 17th. Finally, Guggenheim downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research report on Thursday, November 17th. Ten analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $190.00.
Advance Auto Parts Stock Down 0.8 %
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its earnings results on Tuesday, November 15th. The company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.66 billion. Advance Auto Parts had a return on equity of 25.97% and a net margin of 4.30%. Research analysts forecast that Advance Auto Parts, Inc. will post 12.6 EPS for the current fiscal year.
Advance Auto Parts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.97%. Advance Auto Parts’s payout ratio is presently 77.12%.
Advance Auto Parts Profile
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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