Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,928 shares of the company’s stock after purchasing an additional 1,482 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Advance Auto Parts were worth $4,331,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Wedbush Securities Inc. lifted its holdings in shares of Advance Auto Parts by 6.0% during the 4th quarter. Wedbush Securities Inc. now owns 2,539 shares of the company’s stock valued at $609,000 after buying an additional 144 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Advance Auto Parts during the 4th quarter valued at $313,000. Spire Wealth Management lifted its holdings in shares of Advance Auto Parts by 30.2% during the 4th quarter. Spire Wealth Management now owns 859 shares of the company’s stock valued at $206,000 after buying an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Advance Auto Parts by 30.9% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 309 shares of the company’s stock valued at $74,000 after buying an additional 73 shares during the period. Finally, YorkBridge Wealth Partners LLC bought a new position in shares of Advance Auto Parts during the 4th quarter valued at $511,000. Institutional investors and hedge funds own 98.99% of the company’s stock.
AAP has been the topic of a number of recent research reports. Royal Bank of Canada decreased their target price on Advance Auto Parts from $247.00 to $217.00 in a report on Wednesday, May 25th. MKM Partners initiated coverage on Advance Auto Parts in a report on Thursday, June 23rd. They issued a “buy” rating and a $195.00 target price on the stock. Truist Financial decreased their target price on Advance Auto Parts from $276.00 to $238.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Guggenheim decreased their target price on Advance Auto Parts from $266.00 to $259.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. Finally, Stephens decreased their target price on Advance Auto Parts from $246.00 to $215.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 25th. Six investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.17.
Shares of Advance Auto Parts stock opened at $181.77 on Thursday. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.01 and a beta of 1.21. The business has a 50-day moving average price of $188.24 and a 200-day moving average price of $209.94. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 0.41. Advance Auto Parts, Inc. has a twelve month low of $164.00 and a twelve month high of $244.55.
Advance Auto Parts (NYSE:AAP – Get Rating) last released 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). The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.34 EPS. On average, equities analysts expect that Advance Auto Parts, Inc. will post 13.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 17th were given a $1.50 dividend. The ex-dividend date was Thursday, June 16th. This represents a $6.00 annualized dividend and a yield of 3.30%. Advance Auto Parts’s dividend payout ratio is currently 66.82%.
About Advance Auto Parts (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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