Advance Auto Parts, Inc. (NYSE:AAP) Announces Quarterly Dividend of $0.25

Advance Auto Parts, Inc. (NYSE:AAP - Get Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Friday, April 11th will be given a dividend of 0.25 per share on Friday, April 25th. This represents a $1.00 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, April 11th.

Advance Auto Parts has decreased its dividend by an average of 32.5% annually over the last three years. Advance Auto Parts has a payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Advance Auto Parts to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 63.7%.

Advance Auto Parts Stock Performance

NYSE AAP traded down $1.59 on Monday, hitting $35.31. 3,368,298 shares of the company traded hands, compared to its average volume of 2,161,175. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 48.37, a P/E/G ratio of 1.98 and a beta of 1.15. The company has a current ratio of 1.34, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69. The business's 50 day moving average price is $45.88 and its 200-day moving average price is $43.50. Advance Auto Parts has a 52-week low of $35.02 and a 52-week high of $88.56.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AAP shares. Wedbush reiterated an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a research report on Monday. Barclays cut their target price on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, January 9th. The Goldman Sachs Group lowered their price target on Advance Auto Parts from $60.00 to $43.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. UBS Group increased their price objective on shares of Advance Auto Parts from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Finally, Royal Bank of Canada lowered their target price on shares of Advance Auto Parts from $50.00 to $44.00 and set a "sector perform" rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $46.69.

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Insider Transactions at Advance Auto Parts

In related news, EVP Tammy M. Finley sold 1,276 shares of Advance Auto Parts stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $44.06, for a total transaction of $56,220.56. Following the completion of the transaction, the executive vice president now directly owns 24,266 shares of the company's stock, valued at approximately $1,069,159.96. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.35% of the company's stock.

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.