Prelude Capital Management LLC Buys 664 Shares of Advance Auto Parts, Inc. (NYSE:AAP)

Prelude Capital Management LLC lifted its position in Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 38.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,374 shares of the company’s stock after purchasing an additional 664 shares during the period. Prelude Capital Management LLC’s holdings in Advance Auto Parts were worth $371,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in Advance Auto Parts in the 1st quarter worth $232,000. MetLife Investment Management LLC grew its stake in shares of Advance Auto Parts by 21.9% in the first quarter. MetLife Investment Management LLC now owns 16,965 shares of the company’s stock worth $3,511,000 after purchasing an additional 3,046 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Advance Auto Parts by 5.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,343 shares of the company’s stock valued at $1,727,000 after purchasing an additional 435 shares during the period. Cibc World Market Inc. raised its position in Advance Auto Parts by 120.6% during the 1st quarter. Cibc World Market Inc. now owns 11,593 shares of the company’s stock valued at $2,399,000 after purchasing an additional 6,338 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in Advance Auto Parts by 14.4% in the 1st quarter. Blair William & Co. IL now owns 4,620 shares of the company’s stock worth $956,000 after buying an additional 582 shares during the period. 96.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAP. Raymond James decreased their target price on Advance Auto Parts from $200.00 to $180.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 1st. Stephens dropped their target price on shares of Advance Auto Parts from $196.00 to $164.00 and set an “equal weight” rating for the company in a research report on Monday, November 21st. DA Davidson reduced their price target on shares of Advance Auto Parts from $170.00 to $142.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 1st. Roth Mkm lowered shares of Advance Auto Parts from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $180.00 to $140.00 in a report on Monday, February 13th. Finally, Argus downgraded Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Advance Auto Parts currently has a consensus rating of “Hold” and an average price target of $166.89.

Advance Auto Parts Price Performance

Shares of NYSE AAP opened at $124.36 on Tuesday. The company has a 50 day moving average of $146.60 and a 200 day moving average of $157.50. The company has a quick ratio of 0.21, a current ratio of 1.13 and a debt-to-equity ratio of 0.44. Advance Auto Parts, Inc. has a twelve month low of $124.10 and a twelve month high of $231.43. The firm has a market cap of $7.37 billion, a P/E ratio of 15.04, a PEG ratio of 1.05 and a beta of 1.12.

Advance Auto Parts (NYSE:AAPGet Rating) last posted its earnings results on Tuesday, February 28th. The company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.47. Advance Auto Parts had a net margin of 4.50% and a return on equity of 28.53%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, research analysts expect that Advance Auto Parts, Inc. will post 10.66 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Thursday, April 13th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 72.55%.

About Advance Auto Parts

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Advance Auto Parts, Inc engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It operates through the following segments: Northern Division, Southern Division, Carquest Canada, Independents and Worldpac. Advance Auto Parts offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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