Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Pinnacle Wealth Planning Services Inc.


Pinnacle Wealth Planning Services Inc. decreased its position in shares of Advance Auto Parts, Inc. (NYSE:AAPGet Rating) by 5.6% during the first quarter, Holdings Channel.com reports. The firm owned 1,003 shares of the company’s stock after selling 60 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Advance Auto Parts were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Profund Advisors LLC grew its stake in shares of Advance Auto Parts by 4.0% during the 4th quarter. Profund Advisors LLC now owns 1,324 shares of the company’s stock worth $318,000 after purchasing an additional 51 shares during the period. Wetherby Asset Management Inc. lifted its position in shares of Advance Auto Parts by 4.3% during the 4th quarter. Wetherby Asset Management Inc. now owns 1,331 shares of the company’s stock valued at $319,000 after buying an additional 55 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Advance Auto Parts by 2.6% during the 4th quarter. Benjamin Edwards Inc. now owns 2,571 shares of the company’s stock valued at $617,000 after buying an additional 64 shares in the last quarter. National Asset Management Inc. lifted its position in shares of Advance Auto Parts by 3.2% during the 4th quarter. National Asset Management Inc. now owns 2,102 shares of the company’s stock valued at $504,000 after buying an additional 66 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Advance Auto Parts by 1.3% during the 4th quarter. Allianz Asset Management GmbH now owns 5,195 shares of the company’s stock valued at $1,247,000 after buying an additional 66 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Advance Auto Parts from $247.00 to $217.00 in a research report on Wednesday, May 25th. Wedbush decreased their target price on 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 decreased their target price on 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. 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 research report on Wednesday, May 25th. Finally, Wells Fargo & Company decreased their target price on Advance Auto Parts from $230.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 24th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Advance Auto Parts has an average rating of “Moderate Buy” and a consensus price target of $242.17.

Shares of AAP opened at $173.64 on Monday. Advance Auto Parts, Inc. has a 52-week low of $164.00 and a 52-week high of $244.55. The company has a market capitalization of $10.53 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.01 and a beta of 1.21. The stock has a fifty day simple moving average of $190.93 and a two-hundred day simple moving average of $210.75. 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 (NYSE:AAPGet Rating) last issued its earnings results on Monday, May 23rd. The company reported $3.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.02). Advance Auto Parts had a return on equity of 24.74% and a net margin of 5.16%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the business earned $3.34 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Advance Auto Parts, Inc. will post 13.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 17th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, June 16th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 66.82%.

Advance Auto Parts 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.

Further Reading

Want to see what other hedge funds are holding AAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advance Auto Parts, Inc. (NYSE:AAPGet Rating).

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



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Katherine T. Burrows

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