New Mexico Educational Retirement Board trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 10.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,600 shares of the company’s stock after selling 400 shares during the period. New Mexico Educational Retirement Board’s holdings in Advance Auto Parts were worth $745,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AAP. Life Planning Partners Inc acquired a new stake in Advance Auto Parts in the 4th quarter valued at $30,000. Huntington National Bank increased its holdings in Advance Auto Parts by 116.8% in the 4th quarter. Huntington National Bank now owns 219 shares of the company’s stock valued at $53,000 after purchasing an additional 118 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Advance Auto Parts by 30.9% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 309 shares of the company’s stock valued at $74,000 after purchasing an additional 73 shares in the last quarter. Confluence Wealth Services Inc. acquired a new stake in Advance Auto Parts in the 4th quarter valued at $115,000. Finally, Wahed Invest LLC acquired a new stake in Advance Auto Parts in the 4th quarter valued at $180,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.
A number of equities analysts have weighed in on AAP shares. Citigroup decreased their price objective on shares of Advance Auto Parts from $294.00 to $250.00 in a research report on Friday, May 13th. Truist Financial decreased their price objective on shares of Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating for the company in a research report on Wednesday, May 25th. Morgan Stanley decreased their price objective on shares of Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 24th. UBS Group decreased their price objective on shares of Advance Auto Parts to $250.00 in a research report on Wednesday, May 25th. Finally, Stephens decreased their price objective on shares of Advance Auto Parts from $246.00 to $215.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 25th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Advance Auto Parts presently has an average rating of “Moderate Buy” and an average target price of $244.94.
Shares of NYSE:AAP opened at $174.66 on Thursday. The firm’s 50 day moving average is $196.99 and its two-hundred day moving average is $213.89. Advance Auto Parts, Inc. has a 52 week low of $164.00 and a 52 week high of $244.55. The firm has a market capitalization of $10.59 billion, a P/E ratio of 19.45, a PEG ratio of 0.97 and a beta of 1.23. The company has a current ratio of 1.20, a quick ratio of 0.25 and a debt-to-equity ratio of 0.41.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings results on Monday, May 23rd. The company reported $3.57 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.02). Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the business posted $3.34 EPS. Advance Auto Parts’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts predict that Advance Auto Parts, Inc. will post 13.68 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 17th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $6.00 annualized dividend and a dividend yield of 3.44%. Advance Auto Parts’s payout ratio is currently 66.82%.
Advance Auto Parts Profile (Get Rating)
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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Source: defenseworld.net
