Stephens Inc. AR decreased its position in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 9.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,433 shares of the company’s stock after selling 353 shares during the period. Stephens Inc. AR’s holdings in Advance Auto Parts were worth $537,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAP. Covestor Ltd boosted its stake in shares of 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 buying an additional 83 shares during the period. Ellevest Inc. grew its holdings in shares of Advance Auto Parts by 161.0% during the 2nd quarter. Ellevest Inc. now owns 201 shares of the company’s stock valued at $35,000 after acquiring an additional 124 shares in the last quarter. First Personal Financial Services grew its holdings in shares of Advance Auto Parts by 113.3% during the 3rd quarter. First Personal Financial Services now owns 224 shares of the company’s stock valued at $35,000 after acquiring an additional 119 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of Advance Auto Parts during the 2nd quarter valued at $36,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Advance Auto Parts during the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 96.04% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. Wedbush upgraded shares of Advance Auto Parts from a “neutral” rating to an “outperform” rating in a report on Friday, January 13th. Royal Bank of Canada lowered their price target on shares of Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating on the stock in a report on Thursday, November 17th. DA Davidson lowered their price target on shares of Advance Auto Parts from $200.00 to $170.00 in a report on Thursday, November 17th. UBS Group lowered shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $230.00 to $182.00 in a research note on Wednesday, November 16th. Finally, Stephens reduced their price objective on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating for the company in a research note on Monday, November 21st. Nine analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and a consensus target price of $190.00.
Advance Auto Parts Stock Up 2.9 %
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data on Tuesday, November 15th. The company reported $2.84 EPS 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 analyst estimates of $2.66 billion. Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. As a group, analysts forecast that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current year.
Advance Auto Parts Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Thursday, December 15th. Advance Auto Parts’s dividend payout ratio is currently 77.12%.
Advance Auto Parts Company 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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