Advance Auto Parts, Inc. (NYSE:AAP) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Advance Auto Parts, Inc. (NYSE:AAP) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,829,093 shares of the company’s stock after selling 316,031 shares during the period. Vanguard Group Inc. owned about 0.11% of Advance Auto Parts worth $416,780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AAP. Caxton Associates LP acquired a new stake in shares of Advance Auto Parts during the 3rd quarter valued at approximately $1,223,000. Kepos Capital LP acquired a new stake in shares of Advance Auto Parts during the 3rd quarter valued at approximately $3,356,000. Public Sector Pension Investment Board lifted its position in shares of Advance Auto Parts by 1,173.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 73,471 shares of the company’s stock valued at $4,109,000 after acquiring an additional 67,702 shares during the period. UBS Group AG lifted its position in shares of Advance Auto Parts by 337.7% during the 4th quarter. UBS Group AG now owns 811,734 shares of the company’s stock valued at $49,540,000 after acquiring an additional 626,294 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Advance Auto Parts during the 4th quarter valued at approximately $3,363,000. Institutional investors and hedge funds own 88.75% of the company’s stock.

Advance Auto Parts Stock Down 3.0 %

Shares of AAP opened at $61.79 on Thursday. The firm has a market cap of $3.68 billion, a PE ratio of 89.55, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. The company’s fifty day moving average is $70.26 and its two-hundred day moving average is $69.31. Advance Auto Parts, Inc. has a fifty-two week low of $47.73 and a fifty-two week high of $88.56. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 0.70.

Advance Auto Parts (NYSE:AAP) last announced its quarterly earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.43 billion. Advance Auto Parts had a net margin of 0.37% and a return on equity of 1.59%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. Analysts forecast that Advance Auto Parts, Inc. will post 3.72 earnings per share for the current year.

Advance Auto Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.62%. Advance Auto Parts’s dividend payout ratio (DPR) is presently 144.93%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $70.00 price target on shares of Advance Auto Parts in a research report on Friday, May 24th. Barclays raised their price objective on shares of Advance Auto Parts from $56.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. UBS Group raised their price objective on shares of Advance Auto Parts from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. raised their price objective on shares of Advance Auto Parts from $55.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada dropped their price objective on shares of Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating for the company in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. Based on data from MarketBeat, Advance Auto Parts currently has an average rating of “Hold” and a consensus target price of $64.00.

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.