IFM Investors Pty Ltd raised its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 6.4% during the first quarter, Holdings Channel.com reports. The fund owned 9,218 shares of the company’s stock after purchasing an additional 558 shares during the period. IFM Investors Pty Ltd’s holdings in Advance Auto Parts were worth $1,908,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. OPSEU Pension Plan Trust Fund boosted its stake in Advance Auto Parts by 23.2% in the fourth quarter. OPSEU Pension Plan Trust Fund now owns 5,253 shares of the company’s stock valued at $1,254,000 after acquiring an additional 990 shares during the last quarter. Donald L. Hagan LLC bought a new position in shares of Advance Auto Parts during the fourth quarter worth $802,000. CWM LLC bought a new position in shares of Advance Auto Parts during the fourth quarter worth $3,736,000. Point72 Hong Kong Ltd bought a new position in shares of Advance Auto Parts during the fourth quarter worth $1,260,000. Finally, Hartford Investment Management Co. boosted its position in shares of Advance Auto Parts by 4.6% during the fourth quarter. Hartford Investment Management Co. now owns 6,424 shares of the company’s stock worth $1,541,000 after purchasing an additional 285 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.
AAP has been the topic of a number of recent analyst reports. Wedbush reduced their price target on shares of Advance Auto Parts from $270.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 24th. Guggenheim reduced their price target on shares of Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. Truist Financial reduced their price target on shares of Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating on the stock in a research report on Wednesday, May 25th. StockNews.com lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Finally, UBS Group dropped their price objective on shares of Advance Auto Parts to $250.00 in a report on Wednesday, May 25th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.17.
Shares of AAP stock opened at $173.64 on Friday. 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, Inc. has a 1 year low of $164.00 and a 1 year high of $244.55. The firm’s fifty day moving average price is $190.93 and its two-hundred day moving average price is $211.14. The firm has a market capitalization of $10.53 billion, a P/E ratio of 19.34, a PEG ratio of 1.06 and a beta of 1.23.
Advance Auto Parts (NYSE:AAP – Get Rating) last issued its quarterly earnings results on Monday, May 23rd. The company reported $3.57 earnings per share (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 business 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 firm posted $3.34 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Advance Auto Parts, Inc. will post 13.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $6.00 annualized dividend and a dividend yield of 3.46%. Advance Auto Parts’s dividend payout ratio is presently 66.82%.
Advance Auto Parts Company 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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