Spire Wealth Management lowered its holdings in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 753 shares of the company’s stock after selling 106 shares during the quarter. Spire Wealth Management’s holdings in Advance Auto Parts were worth $156,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of AAP. Life Planning Partners Inc bought a new stake in shares of Advance Auto Parts in the 4th quarter valued at approximately $30,000. Huntington National Bank grew 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 valued at $53,000 after acquiring an additional 118 shares during the period. NuWave Investment Management LLC acquired a new position in Advance Auto Parts during the first quarter worth $67,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Advance Auto Parts by 30.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 309 shares of the company’s stock valued at $74,000 after acquiring an additional 73 shares during the period. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of Advance Auto Parts in the 4th quarter valued at $115,000. 98.99% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on AAP shares. Citigroup cut their price target on shares of Advance Auto Parts from $294.00 to $250.00 in a report on Friday, May 13th. Morgan Stanley reduced their target price on Advance Auto Parts from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 24th. StockNews.com cut Advance Auto Parts from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Royal Bank of Canada reduced their price objective on Advance Auto Parts from $247.00 to $217.00 in a research note on Wednesday, May 25th. Finally, MKM Partners started coverage on Advance Auto Parts in a research note on Thursday, June 23rd. They issued a “buy” rating and a $195.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $242.17.
Shares of NYSE AAP opened at $182.31 on Wednesday. Advance Auto Parts, Inc. has a 1 year low of $164.00 and a 1 year high of $244.55. The firm’s 50-day moving average is $189.10 and its 200-day moving average is $210.14. The company has a current ratio of 1.20, a quick ratio of 0.25 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $11.06 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.01 and a beta of 1.21.
Advance Auto Parts (NYSE:AAP – Get Rating) last announced its quarterly earnings data 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 net margin of 5.16% and a return on equity of 24.74%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business posted $3.34 earnings per share. Advance Auto Parts’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Advance Auto Parts, Inc. will post 13.68 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were given a $1.50 dividend. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $6.00 annualized dividend and a dividend yield of 3.29%. Advance Auto Parts’s dividend payout ratio is currently 66.82%.
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.
Further Reading
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