Hartford Investment Management Co. lowered its position in Advance Auto Parts, Inc. (NYSE:AAP – Get Rating ) by 7.6% during the first quarter, HoldingsChannel.com reports. The firm owned 5,938 shares of the company’s stock after selling 486 shares during the quarter. Hartford Investment Management Co.’s holdings. in Advance Auto Parts were worth $1,229,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AAP. Central Bank & Trust Co. purchased a new position in Advance Auto Parts in the first quarter valued at about $29,000. Life Planning Partners Inc purchased a new stake in Advance Auto Parts in the fourth quarter valued at approximately $30,000. Farmers & Merchants Investments Inc. boosted its holdings in Advance Auto Parts by 500.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 228 shares of the company’s stock valued at $47,000 after purchasing an additional 190 shares in the last quarter. Huntington National Bank raised its position in shares of 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 buying an additional 118 shares during the period. Finally, NuWave Investment Management LLC bought a new position in shares of Advance Auto Parts in the first quarter valued at approximately $67,000. The hedge funds and other institutional investors own 98.99% of the company’s stock.
Shares of NYSE:AAP opened at $173.64 on Tuesday. Advance Auto Parts, Inc. has a 52-week low of $164.00 and a 52-week high of $244.55. The company has a debt-to-equity ratio of 0.41, a quick earnings ratio of 0.25 and a current ratio of 1.20. The company’s fifty day moving average is $189.92 and the 200 day moving average is $210.33. The company has a market cap of $10.53 billion, a PE ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.21.
Advance Auto Parts (NYSE:AAP – Get Rating ) last posted its quarterly 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 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 prior year, the firm earned $3.34 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts predict that Advance Auto Parts, Inc. will post 13.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors 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 dividend of $6.00 on an annualized basis and a dividend yield of 3.46%. Advance Auto Parts’s dividend payout ratio is 66.82%.
AAP has been the subject of a number of recent analyst reports. Stephens decreased their target price on shares of 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. StockNews.com lowered shares of Advance Auto Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st. Wells Fargo & Company cut their target price on shares of 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. UBS Group cut their target price on shares of Advance Auto Parts to $250.00 in a research report on Wednesday, May 25th. Finally, Raymond James cut their target price on shares of Advance Auto Parts from $275.00 to $250.00 in a research report on Wednesday, May 25th. 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 stock. The stock currently has a consensus rating of “Moderate Buy” and an average target price of $242.17, based on data from MarketBeat.com.
About Advance Auto Parts (Get Rating)
Advance Auto Parts, Inc provides auto parts, accessories, batteries and maintenance items for domestic and import cars, vans, sport utility vehicles and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and 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 control and alignment parts.
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