Park Avenue Securities LLC increased its stake in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,150 shares of the company’s stock after acquiring an additional 218 shares during the period. Park Avenue Securities LLC’s holdings in Advance Auto Parts were worth $336,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of AAP. Private Advisor Group LLC bought a new position in shares of Advance Auto Parts in the first quarter worth approximately $232,000. MetLife Investment Management LLC raised its stake in shares of Advance Auto Parts by 21.9% during the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock valued at $3,511,000 after acquiring an additional 3,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Advance Auto Parts by 5.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock worth $1,727,000 after purchasing an additional 435 shares during the period. Cibc World Market Inc. grew its stake in shares of Advance Auto Parts by 120.6% in the first quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock worth $2,399,000 after purchasing an additional 6,338 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in Advance Auto Parts by 14.4% during the 1st quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock valued at $956,000 after purchasing an additional 582 shares during the period. 96.04% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on AAP shares. Wedbush raised Advance Auto Parts from a “neutral” rating to an “outperform” rating in a research note on Friday, January 13th. Guggenheim downgraded shares of Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. Raymond James reduced their target price on Advance Auto Parts from $210.00 to $200.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 17th. StockNews.com cut Advance Auto Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, December 21st. Finally, Stephens reduced their price target on Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating on the stock in a research note on Monday, November 21st. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advance Auto Parts has a consensus rating of “Hold” and an average target price of $190.00.
Advance Auto Parts Stock Up 2.9 %
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its earnings results on Tuesday, November 15th. The company reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.32 by ($0.48). The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.66 billion. Advance Auto Parts had a net margin of 4.30% and a return on equity of 25.97%. Equities analysts forecast that Advance Auto Parts, Inc. will post 12.59 earnings per share for the current fiscal year.
Advance Auto Parts Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were paid a $1.50 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 4.07%. Advance Auto Parts’s dividend payout ratio (DPR) is currently 77.12%.
Advance Auto Parts Company Profile
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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