FMR LLC decreased its stake in shares of Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 0.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,176,234 shares of the company's stock after selling 28,337 shares during the period. FMR LLC owned 7.00% of Advance Auto Parts worth $162,831,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Mather Group LLC. raised its holdings in shares of Advance Auto Parts by 1,241.7% in the 2nd quarter. Mather Group LLC. now owns 644 shares of the company's stock valued at $41,000 after acquiring an additional 596 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Advance Auto Parts during the 2nd quarter valued at about $41,000. Blue Trust Inc. increased its position in shares of Advance Auto Parts by 98.7% during the 2nd quarter. Blue Trust Inc. now owns 769 shares of the company's stock valued at $49,000 after purchasing an additional 382 shares during the last quarter. AM Squared Ltd bought a new position in shares of Advance Auto Parts during the 2nd quarter valued at about $63,000. Finally, GAMMA Investing LLC grew its position in Advance Auto Parts by 60.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,658 shares of the company's stock worth $105,000 after acquiring an additional 627 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on AAP. JPMorgan Chase & Co. decreased their price target on Advance Auto Parts from $68.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, August 16th. UBS Group lifted their price target on Advance Auto Parts from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Wedbush reissued an "outperform" rating and set a $55.00 target price on shares of Advance Auto Parts in a research note on Friday, November 15th. TD Cowen reduced their target price on Advance Auto Parts from $65.00 to $55.00 and set a "hold" rating on the stock in a research note on Friday, August 23rd. Finally, Evercore ISI boosted their target price on Advance Auto Parts from $45.00 to $60.00 and gave the company a "hold" rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Advance Auto Parts presently has an average rating of "Hold" and an average price target of $48.64.
Get Our Latest Stock Analysis on AAP
Advance Auto Parts Stock Up 3.2 %
Shares of AAP stock traded up $1.37 during mid-day trading on Wednesday, hitting $44.01. The company's stock had a trading volume of 2,146,356 shares, compared to its average volume of 2,078,033. Advance Auto Parts, Inc. has a 52-week low of $35.59 and a 52-week high of $88.56. The business has a 50-day moving average price of $39.37 and a 200 day moving average price of $51.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 60.29 and a beta of 1.21.
Advance Auto Parts (NYSE:AAP - Get Free Report) last posted its quarterly earnings data on Thursday, November 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.53). The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.62 billion. Advance Auto Parts had a net margin of 0.41% and a return on equity of 1.82%. The firm's revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.82) EPS. Research analysts predict that Advance Auto Parts, Inc. will post -0.51 EPS for the current fiscal year.
Advance Auto Parts Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, January 10th. Advance Auto Parts's dividend payout ratio (DPR) is presently 136.99%.
Advance Auto Parts Company Profile
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Free Report)
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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