YorkBridge Wealth Partners LLC grew its position in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 9.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,327 shares of the company’s stock after purchasing an additional 197 shares during the period. YorkBridge Wealth Partners LLC’s holdings in Advance Auto Parts were worth $482,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in AAP. GW&K Investment Management LLC purchased a new stake in shares of Advance Auto Parts in the fourth quarter valued at about $44,758,000. Qube Research & Technologies Ltd increased its holdings in Advance Auto Parts by 11,925.5% during the fourth quarter. Qube Research & Technologies Ltd now owns 153,445 shares of the company’s stock worth $36,808,000 after buying an additional 152,169 shares during the last quarter. Mane Global Capital Management LP purchased a new stake in Advance Auto Parts during the fourth quarter worth about $29,680,000. Invesco Ltd. increased its holdings in Advance Auto Parts by 15.0% during the fourth quarter. Invesco Ltd. now owns 919,397 shares of the company’s stock worth $220,546,000 after buying an additional 119,664 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Advance Auto Parts during the fourth quarter worth about $26,025,000. Institutional investors own 98.99% of the company’s stock.
A number of research firms recently issued reports on AAP. 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 report on Wednesday, May 25th. Wells Fargo & Company cut their target price on shares of Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 24th. Morgan Stanley cut their target price 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. MKM Partners initiated coverage on shares of Advance Auto Parts in a research report on Thursday. They set a “buy” rating and a $195.00 target price for the company. Finally, Citigroup cut their target price on shares of Advance Auto Parts from $294.00 to $250.00 in a research report on Friday, May 13th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Advance Auto Parts has a consensus rating of “Moderate Buy” and a consensus price target of $242.17.
Shares of AAP opened at $183.10 on Monday. The firm’s 50 day simple moving average is $195.48 and its 200 day simple moving average is $212.88. The company has a market capitalization of $11.10 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.06 and a beta of 1.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.20 and a quick ratio of 0.25. Advance Auto Parts, Inc. has a 1-year low of $164.00 and a 1-year high of $244.55.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its earnings results on Monday, May 23rd. The company reported $3.57 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Advance Auto Parts had a net margin of 5.16% and a return on equity of 24.74%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.34 earnings per share. On average, equities analysts anticipate that Advance Auto Parts, Inc. will post 13.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Thursday, June 16th. Advance Auto Parts’s dividend 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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