PGGM Investments trimmed its position in shares of Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 1.0% in the fourth quarter, Holdings Channel reports. The fund owned 118,850 shares of the company’s stock after selling 1,185 shares during the quarter. PGGM Investments’ holdings in Advance Auto Parts were worth $28,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in AAP. Arkadios Wealth Advisors raised its position in shares of Advance Auto Parts by 479.3% during the third quarter. Arkadios Wealth Advisors now owns 168 shares of the company’s stock valued at $35,000 after buying an additional 139 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Advance Auto Parts by 423.5% during the third quarter. First Horizon Advisors Inc. now owns 267 shares of the company’s stock valued at $39,000 after buying an additional 216 shares during the last quarter. Tobam raised its position in shares of Advance Auto Parts by 466.7% during the third quarter. Tobam now owns 238 shares of the company’s stock valued at $50,000 after buying an additional 196 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Advance Auto Parts by 23.9% during the third quarter. Geneos Wealth Management Inc. now owns 259 shares of the company’s stock valued at $53,000 after buying an additional 50 shares during the last quarter. Finally, Huntington National Bank raised its position in Advance Auto Parts by 116.8% in the fourth quarter. Huntington National Bank now owns 219 shares of the company’s stock worth $53,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 97.61% of the company’s stock.
AAP opened at $206.96 on Friday. The firm’s fifty day moving average is $215.12 and its two-hundred day moving average is $223.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 1.21. The firm has a market cap of $12.64 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. Advance Auto Parts, Inc. has a twelve month low of $179.60 and a twelve month high of $244.55.
Advance Auto Parts (NYSE:AAP – Get Rating) last posted its earnings results on Monday, February 14th. The company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.10. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.37 billion. Advance Auto Parts had a net margin of 5.60% and a return on equity of 23.63%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.87 earnings per share. Equities analysts forecast that Advance Auto Parts, Inc. will post 13.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 1st. Investors of record on Friday, March 18th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from Advance Auto Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, March 17th. Advance Auto Parts’s dividend payout ratio (DPR) is presently 62.96%.
AAP has been the subject of several recent research reports. Truist Financial initiated coverage on shares of Advance Auto Parts in a research report on Thursday, January 13th. They issued a “buy” rating and a $273.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Advance Auto Parts from $276.00 to $280.00 in a research report on Friday, February 11th. Wells Fargo & Company dropped their price target on shares of Advance Auto Parts from $255.00 to $245.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 15th. Royal Bank of Canada assumed coverage on shares of Advance Auto Parts in a report on Thursday, January 27th. They set a “sector perform” rating and a $239.00 price objective for the company. Finally, StockNews.com assumed coverage on shares of Advance Auto Parts in a report on Thursday. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $256.65.
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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