CX Institutional Increases Stake in Advance Auto Parts, Inc. (NYSE:AAP)
CX Institutional increased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 864.7{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,290 shares of the company’s stock after purchasing an additional 13,705 shares during the quarter. CX Institutional’s holdings in Advance Auto Parts were worth $2,390,000 at the end of the most recent quarter.
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Several other institutional investors have also recently added to or reduced their stakes in AAP. JPMorgan Chase & Co. lifted its stake in Advance Auto Parts by 22.4{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. JPMorgan Chase & Co. now owns 2,636,189 shares of the company’s stock worth $456,297,000 after purchasing an additional 482,858 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in Advance Auto Parts by 196.5{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Ceredex Value Advisors LLC now owns 635,030 shares of the company’s stock worth $110,848,000 after purchasing an additional 420,878 shares during the last quarter. Vanguard Group Inc. lifted its stake in Advance Auto Parts by 3.9{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the first quarter. Vanguard Group Inc. now owns 6,970,480 shares of the company’s stock worth $1,442,611,000 after purchasing an additional 261,715 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Advance Auto Parts by 202.5{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the first quarter. Arrowstreet Capital Limited Partnership now owns 390,826 shares of the company’s stock worth $80,885,000 after purchasing an additional 261,608 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its stake in Advance Auto Parts by 563.2{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} during the second quarter. Miller Howard Investments Inc. NY now owns 232,108 shares of the company’s stock worth $40,176,000 after purchasing an additional 197,108 shares during the last quarter. Hedge funds and other institutional investors own 96.04{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} of the company’s stock.
Advance Auto Parts Stock Up 0.8 {49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}
AAP opened at $148.62 on Tuesday. The business’s fifty day moving average is $148.60 and its two-hundred day moving average is $169.32. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.23 and a current ratio of 1.13. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 0.89 and a beta of 1.15. Advance Auto Parts, Inc. has a one year low of $138.52 and a one year high of $237.39.
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its earnings results on Tuesday, November 15th. The company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $3.32 by ($0.48). The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Advance Auto Parts had a return on equity of 25.97{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5} and a net margin of 4.30{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}. Analysts anticipate that Advance Auto Parts, Inc. will post 12.59 EPS for the current fiscal year.
Advance Auto Parts Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were given a dividend of $1.50 per share. The ex-dividend date was Thursday, December 15th. This represents a $6.00 dividend on an annualized basis and a yield of 4.04{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}. Advance Auto Parts’s payout ratio is 77.12{49e09b23eae7466ccc7574c19ebb3019301c9a11d2999feff81a3526451546a5}.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their price objective on Advance Auto Parts from $230.00 to $197.00 and set a “buy” rating for the company in a research note on Thursday, November 17th. UBS Group cut Advance Auto Parts from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $230.00 to $182.00 in a research note on Wednesday, November 16th. Guggenheim cut Advance Auto Parts from a “buy” rating to a “neutral” rating in a research note on Thursday, November 17th. Royal Bank of Canada reduced their price objective on Advance Auto Parts from $199.00 to $165.00 and set a “sector perform” rating for the company in a research note on Thursday, November 17th. Finally, Morgan Stanley reduced their price objective on Advance Auto Parts from $205.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, November 17th. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $190.00.
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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